Clean chit to Anil in Swan deal | delhi | Hindustan Times
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Clean chit to Anil in Swan deal

delhi Updated: Oct 02, 2011 23:59 IST
HT Correspondent
HT Correspondent
Hindustan Times
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The Central Bureau of Investigation (CBI) has given a clean chit to ADAG group chief Anil Ambani and his wife Tina on charges that they held shares in firms linked to Swan Telecom and derived benefits from the 2G-scam tainted company.

According to the CBI, being the majority shareholder in Reliance ADA Group, Anil Ambani and his family members were the main beneficiaries of Reliance Communications and Reliance Telecom.

"However, before any benefit was made to Swan Telecom on account of grant of licence, it was taken over by DB Group. Therefore, DB Group and not Reliance ADA Group had been benefited by issue of licences to Swan Telecom," CBI said in a status report to the Supreme Court on September 29.

The agency, however, told the SC that it was still trying to ascertain the "real beneficiaries".

CBI said on Sunday that it was still probing the role of Anil Ambani as part of its investigation into the 2G scam.

The CBI has also dismissed charges that only Anil and Tina Ambani were authorised to issue payments of more than Rs 10 crore of Swan Telecom.

The CBI said the Anil and Tina Ambani had exited from ADAE Ventures, Swan Consultants, Tiger Traders and AAA Consultancy Services before the alleged fund transfer had taken place among these companies related to Swan Telecom.

"The investigation has revealed that they had not issued any bank instrument including cheque, real time gross settlement (RTGS) advice, transfer request which is relevant in the case," CBI told SC in the report.

The SC, which is monitoring the probe, was hearing petitioner Centre for Public Interest Litigation's allegations about a maze of companies that have disguised Swan Telecom's real ownership. The petitioner NGO also alleged that the CBI did not act against the chief of ADAG, whose three executives are already chargesheeted.

According to CBI, Tiger Traders Private Limited and Reliance Telecom held 91.1% and 9.1% respectively of Swan Telecom at the time of filing of applications to DoT for telecom licences. Tiger Traders, on the other hand, were owned by Zebra Consultants and Parrot Consultants and the three companies held each others' shares.

Funds invested by Tiger Traders in Swan Telecom were ultimately sourced to two companies - ADAE Ventures and Sonata Investments - while another firm AAA Consultancy Services had transferred small amounts to Tiger Traders.

"Probe didn't reveal any evidence, either oral or documentary to inculpate Anil Ambani in the structuring of different firms and transfer of funds," CBI said.

A Reliance ADAG spokesman said the company would not comment on the matter.