CBI grills Tata Realty head and MD | business | Hindustan Times
Today in New Delhi, India
Jan 23, 2017-Monday
New Delhi
  • Humidity
  • Wind

CBI grills Tata Realty head and MD

business Updated: Feb 25, 2011 00:25 IST
HT Correspondent
HT Correspondent
Hindustan Times
Highlight Story

The Central Bureau of Investigation (CBI) on Thursday questioned Tata Realty and Infrastructure Limited (TRIL) chairman RK Krishna Kumar and managing director Sanjay Ubale, along with five other honchos of other companies in the 2G spectrum scam case.

Kumar, also a Director on the Tata Sons’ board, and Ubale were grilled for several hours at the CBI headquarter about why had TRIL allegedly given R1, 600 crore as advance/loan to real estate company Unitech just before the latter applied for a telecom licence. Unitech, identified by the CBI as one of the two major beneficiaries of the scam, had paid R1,658 crore —roughly the same amount that it had received from TRIL — for the Universal Access Services licences for 22 circles.

The CBI suspects that Unitech could have been a dummy for the Tata Teleservices, a Tata group company like that of TRIL, which had already been allocated the telecom licence. The CBI also suspects that former Telecom minister A Raja had allegedly extended favours to several telecom operators including Tata Tele Services and Unitech.

The CBI is also probing whether there was allegedly a quid-pro-quo in the case in the form of a Chennai-based real-estate property.

The CBI also grilled Spice Telecom's managing director Dilip Modi and director Shankaran, Siva Group of Companies' group chief executive officer V Srinivasan, mobile company S Tel's chief executive officer Shamik Das, and mobile company Loop Telecom's chief executive officer Sandip Basu. These officials were asked to clarify the roles played by their respective organisations.