2G: ED to attach properties of two companies

The Enforcement Directorate assured the Supreme Court that properties of companies involved in 2G scam would be attached within two months.

Updated: Apr 27, 2011, 19:39 PM IST

Zeenews Bureau

New Delhi: The Enforcement Directorate(ED) on Wednesday assured the Supreme Court that properties of two companies involved in 2G scam would be attached within two months. The court was given the information in a sealed envelope.

The ED has already initiated attachment proceedings against those companies. “Some two months will be required to complete the attachment proceedings, since it involved issuance of notices and, in some cases, identification of properties,” said senior counsel KK Venugopal appearing for the directorate.
The apex court bench of Justice GS Singhvi and Justice AK Ganguly was told that the companies illegally gained Rs.2,000 crore each after the grant of spectrum and licences.

The Enforcement Directorate has decided to attach the properties of the guilty companies after collecting incriminating evidences from 34 witnesses.

The apex court appears to be satisfied with investigations done by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) into the 2G spectrum scam. The CBI and ED officials have done commendable job in probing 2G spectrum scam, the Supreme Court today said.
The Comptroller and Auditor-General (CAG) of India had exposed serious irregularities in the allocation of 2G spectrum and pegged the revenue loss to the national exchequer at a staggering Rs 1.76 lakh crore.