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SFIO final report on Tata-Unitech deal in a 'few days': Pilot

Last Updated: Friday, October 4, 2013 - 17:53

New Delhi: Serious Fraud Investigation Office (SFIO) is expected to submit its final report in a "few days" on alleged 'dubious' transactions between Tatas and realty firm Unitech which the two companies had denied.

Corporate Affairs Minister Sachin Pilot on Friday said he has already met concerned officials with regard to the report.

"They (SFIO) are still working on the report and in the next few days I will receive the (final) report," Pilot said.

He was speaking to reporters on the sidelines of an event organised by industry body CII here.

Corporate Affairs Ministry, last year, had ordered an SFIO probe into the affairs of Niira Radia-led PR firm Vaishnavi, which used to handle media relations of various Tata group firms and Unitech.

The Mumbai office of the SFIO is said to have communicated to its head office here that certain 'dubious' transactions disguised as realty transactions took place between Tatas and Unitech.

Among others, the report is also said to have suggested prosecution of five senior management personnel at Tatas, as also against four top Unitech executives and one at Vaishnavi.

As per the SFIO Mumbai report, it is suspected that a Rs 1,700-crore realty deal between Tatas and Unitech in 2007 could have been meant for funding Unitech's telecom licence issued in January 2008.

Tata group's dealings with Vaishnavi entities are also reportedly under scanner.

All companies have denied any wrongdoing.


First Published: Friday, October 4, 2013 - 17:53
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