Reliance Anil Dhirubhai Ambani (ADA) group president and Reliance Telecom director Gautam Doshi masterminded the investment and transfer of shares in Swan Telecom via Mauritius-based company.
The CBI has chargesheeted Doshi as an accused in 2G-spectrum scam. According to CBI, one corporate group, which had a substantial stake in another telecommunications operator in India in many circles was also holding controlling stake over Swan Telecom, another telecom operator in India, through Mauritius-based companies in violation of the Unified Access Services licences guidelines for the allocation of 2G-spectrum.
The CBI elaborated the role of Doshi and said, “The commercial decision on behalf of Reliance Telecom including investments in Swan Telecom, transfer of shares to Delphi Investment (in Mauritius), have also taken by him.”
The CBI in Letter of Rogatory to Mauritius government has said investigations had revealed that the entire equity in the form of 107,91,000 shares held by Reliance Telecom were transferred to Delphi Investment on December 5, 2007. The agency has asked Mauritius government to provide details of origin of stakeholders and actual beneficiaries in Delphi Investment.
The letter states: “Allegations have also surfaced that some public servants of the government of India may have stakes in Etisalat DB Telecom (formerly Swan ) through Mauritius.”
The agency said: “Doshi with others has played an active role in structuring and funding Swan Telecom, Tiger Traders (an associate company of Reliance ADA group, which has equity in Swan) and other companies. All decisions regarding transfer of funds to Tiger Traders/ Swan Telecom were taken by him.”