New CBI report suggests active involvement of Reliance ADAG in 2G scam

Reliance ADA Group was actively involved with one of the accused firm in 2G spectrum case Swan Telecom Pvt. Ltd. (STPL) by fully funding the latter in an alleged violation of stipulated rules, CBI alleged today.

The agency said that the Group made the funding through a "circuitous route" when STPL had applied for 2G licences in 14 telecom circles across the country.

"It (transactions) was disguised. It was done to increase the paid up capital of STPL," special public prosecutor Anand Grover told Special CBI Judge O P Saini.

In its charge sheet, CBI has alleged that Reliance Telecom Ltd (RTL) had used STPL, an ineligible firm, as front company to get the 2G licenses and the costly radio waves.

All the accused had denied allegations levelled against them by CBI.

(Image credits: Indiatimes)