2G case: Reliance ADAG official deposes as witness | delhi | Hindustan Times
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2G case: Reliance ADAG official deposes as witness

A 2G case witness on Monday failed to recollect in a Delhi court if he had told CBI that he had not deposited in bank a cheque issued to him by Tiger Traders Pvt Ltd, an alleged associate of Reliance ADA Group, on orders of group's senior vice president and accused Hari Nair.

delhi Updated: Jan 16, 2012 22:53 IST

A 2G case witness on Monday failed to recollect in a Delhi court if he had told CBI that he had not deposited in bank a cheque issued to him by Tiger Traders Pvt Ltd, an alleged associate of Reliance ADA Group, on orders of group's senior vice president and accused Hari Nair.

Reliance Powers' deputy general manager Paresh Rathod, in his earlier statement to CBI, had said he had resigned as one of the directors of Swan Capital Pvt Ltd on Nair's orders but he failed to recollect the same today in the court.

"I do not remember if I had told the investigating officer (IO) that Dinesh Modi and myself resigned as directors for Swan Capital (P) Limited on January 22, 2007 on the asking of Hari Nair, other company secretary....

"I do not remember if I had told the IO that the cheque of Tiger Traders (P) Ltd was not deposited by me on the asking of Hari Nair," Rathod, testifying as a prosecution witness, told Special CBI Judge OP Saini.

Rathod deposed in the court today that he had resigned as the director of Swan Capital Pvt Ltd and Tiger Traders Pvt Ltd on the asking of his senior colleague Ramesh Shenoy.

This, however, led the CBI prosecutor to cross-examine Rathod saying "the witness was resiling from his earlier statement."

During the cross-examination, Rathod failed to remember if he had told CBI that he had resigned as one of the directors of Swan Capital Pvt Ltd on January 22, 2007, on the asking of Nair.

He said creation of shell companies is a "normal practice" adopted by big business houses and there is nothing illegal in it.

"Creation of shell companies is a normal practice adopted by big business houses for their future business growth and their is nothing illegal in that," he said.

He said the Reliance ADA Group comprises five to six listed companies and around 300 subsidiaries of these companies or the unlisted companies.

"In 10 to 11 companies of the group, I was appointed Director including Reliance World Ltd, Swan Capital Pvt Ltd, Tiger Traders Pvt Ltd etc," he said.

The recording of Rathod's statement would continue on Tuesday.

Top executives of Reliance ADA Group Gautam Doshi, Hari Nair and Surendra Pipara are facing trial in the 2G spectrum allocation scam case along with Reliance Telecom Ltd.