CBI asks details of Swiss company linked to Swan
India has requested Swiss government to provide details of Swiss firm which allegedly made indirect investments in Swan Tele under probe in 2G scam.
New Delhi: Against the backdrop of allegations
that some government officials had stakes in Etisalat DB
Telecom, India has requested Swiss government to provide
details of Swiss firm Belvoir which allegedly made indirect
investments in Swan Telecom under probe in 2G scam.
In its Letters Rogatory sent to Swiss authorities, the
special court hearing the 2G case has requested competent
authorities in Switzerland to provide documents relating to
incorporation along with Memorandum and Article of
Association, details of Directors, shareholders and ultimate
beneficiary owners of the company.
The LR has also sought details and relevant documents in
respect of the share class pertaining to the investment of
four million US Dollars by Mavi Investment Fund Limited
Mauritius in Swan Telecom, which later became Etislat DB
Telecom, through Delphi Investment.
It sought details of the bank accounts of BTS Belvoir
Investment and also of any funds transferred by it to Mavi
Investment during the period 2005-10.
It requested the Officer of Registrar of Companies to
examine its own officers regarding nominee shareholders of
BTS Belvoir since January 2007 till date and also examine
Alastair Guggunbehi, one of the Directors of the company
besides providing the `Know Your Customer` documents.
The LR also communicated to the Swiss authority that two
group companies of BTS Belvoir Group were incorporated in
Mumbai and alleged that Guggenbuhi was "personally linked to
the investment of four million Dollars by Delphi Investment in
Swan Telecom and is also aware of its ultimate beneficiary
The LR said that during investigations it has come on
record that at the time of incorporation, the sole founder
share of Delphi Investment Limited, Mauritius was held
by Conqueror Limited which transferred it to Mavi Investment
on December 11, 2007.
According to the document, Delphi Investment Limited
made a payment of four million Dollars to Reliance Telecom
Limited towards purchase of 10,791,000 equity shares of Swan
Telecom Private Limited.