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Money laundering case: Vodafone’s ED hearing today
Telecom major Vodafone's representatives will appear on Tuesday before the Enforcement Directorate (ED) sleuths in connection the money laundering probe into the alleged irregularities in grant of additional 2G spectrum during 2001-03.
Telecom major Vodafone's representatives will appear on Tuesday before the Enforcement Directorate (ED) sleuths in connection the money laundering probe into the alleged irregularities in grant of additional 2G spectrum during 2001-03.
“Vodafone Essar Limited was asked to send its representative on Tuesday, while another company Vodafone Essar Mobile Services Limited was summoned for April 24. As far as Bharti Airtel Limited is concerned, due to some technical reasons summons could not be executed. New summons will be sent very soon,” a source close to development said.
The case pertains to Pramod Mahajan's tenure, when the late BJP leader was the telecom minister.
The ED has alleged that then telecom secretary Shyamal Ghose and deputy director general (VAS) JR Gupta with the approval of Pramod Mahajan on January 31, 2002, took a 'hurried decision' to allocate additional spectrum beyond 6.2 megahertz in violation of the report of a technical committee.
The agency claimed that the exchequer suffered loss to the tune of R508.22 crore due to the decision.
The ED had named three companies — Bharti Cellular Limited, (now known as Bharti Airtel Limited), Huchinson Max Private Limited (now known as Vodafone Essar Limited) and Sterling Cellular Limited (now known as Vodafone Essar Mobile Services Limited) — and former telecom secretary Shyamal Ghose and former deputy director general (VAS) JR Gupta in its enforcement case information report registered under the PMLA.
According to sources, the company has been asked to submit its shareholding pattern since 2003, names of directors and foreign direct investment received by it during the period.
