Anil Ambani was not director of Swan Tel: witness tells court

Last Updated: Tuesday, January 31, 2012 - 18:16

New Delhi: Chairman of Reliance ADA Group Anil Ambani was not the director of Swan Telecom Pvt Ltd and Tiger Traders Pvt Ltd, the two alleged associate firms of the group, a prosecution witness told a Delhi court Tuesday.

"Reliance ADA Group refers to companies which are under the chairmanship of Anil Ambani. The directors of the company select one of them as chairman.

"Anil Ambani was not director of Swan Capital Pvt Ltd/Swan Telecom Pvt Ltd and Tiger Traders Pvt Ltd," a prosecution witness and Reliance Infrastructure Ltd's Senior Executive Vice President Ashish Tambawala told Special CBI Judge O P Saini.

He said Reliance ADA Group is an umbrella of several companies belonging to it and he, during his tenure with the group, has been the authorised signatory of 150 to 200 firms.
 
"I have been authorised signatory of 150 to 200 companies during my tenure with Reliance ADA Group. Reliance ADA Group is an umbrella of several companies belonging to the group.

"Each company of the group has its own separate identity. Reliance ADA Group is generic name without any legal identity," he said.

The CBI, in its charge sheet in the 2G case, had alleged that Tiger Traders Pvt Ltd and Swan Telecom Pvt Ltd were associate companies of Reliance ADA Group.

PTI

First Published: Tuesday, January 31, 2012 - 18:16

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