New Delhi: In a blow to corporate house Reliance Anil Dhirubhai Ambani Group (ADAG), CBI on Saturday chargesheeted one of its firms and its three top officials for their complicity in 2G spectrum allocation scam case.
In the chargesheet filed in the special court, the agency said the Reliance Telecom Ltd (RTL) used Swan Telecom, an ineligible firm, as its front company to get licenses and the costly radio waves.
"Swan, at the time of application, was an associate of RTL. Investigations have also disclosed that Tiger Trader Pvt Ltd, which held maturity stake in Swan telecom Pvt Ltd, was also an associate company of Reliance ADA Group. Both the companies had no business history and were activated solely for the purpose of applying for UAS licences in 13 telecom circles," the first chargesheet in the case said.
Group MD of RADAG Gautam Doshi, group president Surender Pipara and senior vice president Hari Nair, along with the company, have been chargesheeted for entering into a criminal conspiracy to cheat the government by getting licenses in an illegal manner.
"Investigation has revealed that in Jan-Feb 2007 accused Gautam Doshi, Surender Pipara and Hari Nair in furtherance of their common intention to cheat the DoT, structured/created net worth of company Swan Telecom Pvt ltd, out of funds arranged from Reliance telecom ltd," the agency
"The accused persons structured the holding of Swan in a manner that only 9.9 percent equity was held by Reliance Telecom ltd (RTL) and rest 90.1 percent was shown as held by Tiger Traders Pvt Ltd, although the entire company was held by the Reliance ADA Group of companies through the funds raised from RTL."
The agency said the top officials of RADAG were also involved in the day-to-day affairs of Swan and the other front firm Tiger Traders Pvt Ltd.
"The day-to-day affiars of Swan and Tiger Traders Pvt ltd were managed by three accused persons either themselves or through other officers related to Reliance ADA group. Their commercial decisions were also taken by the accused persons of Reliance ADAG."
"The accused Hari Nair in league with the accused Gautam Doshi and Surendra Pipara dishonestly misrepresented to DoT that Tiger Traders Pvt ltd was held by India Telecom Infrastructure Fund," the chargesheet said. Promoter of Swan Telecom Shahid Balwa is in judicial custody along with former telecom minister A Raja and two others in the case.
"Investigation has disclosed that the Unitech group of companies, having object clauses of realty, did not even have their object clauses under Memorandum and Articles of Association amended before applying to enter in the business of telecom. Unitech companies fraudulently concealed critical
information in this regard to avoid rejection for being ineligible."