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A <keyword id="2226735" type="UNKNOWN" weightage="80" keywordseo="Delhi-CBI-court">Delhi CBI court</keyword> today recorded the statement of A Raja, former Telecom Minister and key accused in the 2G spectrum allocation scam. 
Special CBI Judge OP Saini started the statement recording and said that it was a "direct conversation" between him and the accused (A Raja). 
 
"Now the statement of the accused will be recorded. It is a direct conversation between the accused and the judge... You (accused) may chose to reply or not reply," the judge said. 
 
Prior to this, the court had supplied a draft questionnaire to the accused. The draft contained 1,718 questions and 824 pages. 
 
The court has postponed the deposition of the promoters of the Essar Group and Loop Telecom till May 19. Essar Group promoters Ravi Ruia and Anshuman Ruia, Loop Telecom promoters Kiran Khaitan, her husband IP Khaitan and Essar Group director (strategy and planning) Vikash Saraf are facing trial in the case along with the three firms – Loop Telecom Ltd, Loop Mobile India Ltd and Essar Tele Holding Ltd. 
 
"I think there will be no time for you today. The matter is adjourned for recording of statement of accused till May 19," the judge said. 
All the accused have denied the charges levelled by the CBI in the case. 
 Earlier, the court had recorded the statements of 153 CBI witnesses, including Reliance ADAG chairman <keyword id="9171" type="PERSON" weightage="40" keywordseo="Anil-Ambani">Anil Ambani</keyword>, his wife <keyword id="40530" type="PERSON" weightage="40" keywordseo="Tina-Ambani">Tina Ambani</keyword>, former corporate lobbyist <keyword id="149786" type="PERSON" weightage="40" keywordseo="Niira-Radia">Niira Radia</keyword> and Attorney General GE Vahanvati. The statement ran into more than 4,400 pages. 
 Apart from Raja and Karunanidhi’s daughter <keyword id="131867" type="PERSON" weightage="40" keywordseo="Kanimozhi">Kanimozhi</keyword>, former telecom secretary Siddharth Behura, Raja's former private secretary RK Chandolia, Swan Telecom promoters Shahid Usman Balwa and Vinod Goenka, Unitech Ltd MD Sanjay Chandra, and Reliance ADAG executives – Gautam Doshi, Surendra Pipara and <keyword id="166256" type="PERSON" weightage="40" keywordseo="Hari-Nair">Hari Nair</keyword> – are also facing trial in the case. 
 
Image: Indiatimes

2G
Case: A Raja’s Statement Recorded

<ul><li>The International Consortium of Investigative Journalists (ICIJ) has announced <keyword id="12235620" type="General" weightage="20" keywordseo="Pandora-Papers" source="Orion">Pandora Papers</keyword>, a leak that consists of offshore dealings routed through tax havens across the globe.</li><li>The list includes hundreds of Indians, dozens of whom are prominent and already under investigation by Indian authorities.</li><li>Here’s everything we know so far about the Indians involved in Pandora Papers.</li></ul><keyword id="12237221" type="General" weightage="20" keywordseo="Pandora-Papers-leak" source="Orion">Pandora Papers leak</keyword> includes several prominent Indian names, including cricketing legend Sachin Tendulkar and <keyword id="9171" type="General" weightage="20" keywordseo="Anil-Ambani" source="Orion">Anil Ambani</keyword>, the beleaguered brother of India’s richest person. Over 300 Indian names have been spotted in the leak - the biggest one yet, bigger than even the Panama Papers leak which rocked the world in 2016. The Ministry of Finance took note of the revelations made in the Pandora Papers leak today evening. "The relevant investigative agencies would undertake investigation in these cases and appropriate action would be taken in such cases as per law," stated a <a href="https://twitter.com/IncomeTaxIndia/status/1445015165523546115" data-type="tilCustomLink">press release</a> issued by the ministry. An official spokesperson of India's Central Board of Direct Taxes (CBDT) has said that the revelations of the Pandora papers will be investigated. As per a statement to ANI, a team consisting of representatives from CBDT, Enforcement Directorate, Reserve Bank of India and Financial Intelligence Unit will soon begin the investigation. The investigation will be headed by the Chairman of CBDT. It is worth pointing out that while many of these investments routed through offshore firms are done with the objective of tax avoidance and maintaining secrecy, some of them are legitimate and declared to the relevant authorities in India. That said, here’s everything we know so far about the Pandora Papers leak and the Indians named in it so far: <cmsannotation type="cmsannotation" annotationid="Over 300 Indians in Pandora Papers leak" comment="subhead" text="Over 300 Indians in Pandora Papers leak">Over 300 Indians in Pandora Papers leak</cmsannotation> According to an Indian Express report, there are over 300 Indian names in the Pandora Papers leak, including over 60 prominent ones. The report adds that these will be corroborated and revealed in the coming days. These are some of the people named in the reports. <cmsannotation type="cmsannotation" annotationid="Anil Ambani" comment="subhead" text="Anil Ambani">Anil Ambani</cmsannotation> <div type="image" title="Anil Ambani" msid="86745697" hostid="261"><payload><![CDATA[Anil Ambani]]></payload></div> The beleaguered brother of India’s richest person has found his name in the papers, accusing him of setting up 18 offshore firms that have borrowed and invested $1.3 billion, one of which shares a promoter firm that owns Reliance Capital listed in India. “The Reliance Group conducts business globally and for legitimate business and regulatory requirements, companies are incorporated in different jurisdictions,” a lawyer on behalf of Anil Ambani <a href="https://indianexpress.com/article/express-exclusive/anil-ambani-pandora-papers-7550155/">told the Indian Express</a>. <cmsannotation type="cmsannotation" annotationid="Sachin Tendulkar" comment="subhead" text="Sachin Tendulkar">Sachin Tendulkar</cmsannotation> <div type="image" title="Sachin Tendulkar" msid="86745715" hostid="261" caption="&amp;lt;p&amp;gt;Sachin Tendulkar&amp;lt;/p&amp;gt;"></div> Cricketing legend Sachin Tendulkar had reportedly set up a firm way back in 2007, which was liquidated in 2016, valued at roughly $8.6 million. <a href="https://indianexpress.com/article/express-exclusive/sachin-tendulkar-pandora-papers-panama-expose-7550138/">According</a> to the CEO and Director of the Sachin Tendulkar Foundation, these investments are legitimate and declared in Tendulkar’s tax returns. <cmsannotation type="cmsannotation" annotationid="Nirav Modi" comment="subhead" text="Nirav Modi">Nirav Modi</cmsannotation> <div type="image" title="Nirav Modi" msid="86745727" hostid="261" caption="&amp;lt;p&amp;gt;Nirav Modi and Mehul Choksi&amp;lt;/p&amp;gt;"></div> His sister, Purvi Modi, set up a trust in the British Virgin Islands a month before he fled in January 2018. She has been named accused in a $2 billion money laundering case filed against Nirav Modi and Mehul Choksi. <cmsannotation type="cmsannotation" annotationid="Niira Radia" comment="subhead" text="Niira Radia">Niira Radia</cmsannotation> <div type="image" title="Niira Radia" msid="86745766" hostid="261" caption="&amp;lt;p&amp;gt;Niira Radia&amp;lt;/p&amp;gt;"></div> Corporate lobbyist Niira Radia has reportedly set up a dozen firms, conducting her offshore transactions through Sanjay Newatia, a former Credit Suisse banker. An <a href="https://indianexpress.com/article/express-exclusive/pandora-papers-niira-radia-corporate-lobbyist-7550207/">Indian Express report</a> suggests that her name is linked to a dozen offshore firms, an allegation which Radia declines and states “accurate disclosures have been made to all relevant authorities. <cmsannotation type="cmsannotation" annotationid="Gandhi family friend Satish Sharma" comment="subhead" text="Gandhi family friend Satish Sharma">Gandhi family friend Satish Sharma</cmsannotation> <div type="image" title="Satish Sharma - Priyanka Gandhi Vadra" msid="86745776" hostid="261" caption="&amp;lt;p&amp;gt;Satish Sharma with the Gandhi family&amp;lt;/p&amp;gt;"></div> A Gandhi family friend and former Congress leader, Satish Sharma set up a trust in 1995 when he was the Petroleum and Natural Gas minister. He also set up another trust in 2015 when he was a Rajyasabha member. Sharma was the protector of both, the Jan Zegers and JZ II trusts, and his wife a beneficiary. In a response to <a href="https://indianexpress.com/article/express-exclusive/pandora-papers-satish-sharma-congress-7550193/">The Indian Express</a>, Sharma’s wife, Sterre Sharma, noted that these trusts were set up to “manage his assets and pass on his inheritance” to the listed beneficiaries. <cmsannotation type="cmsannotation" annotationid="Cox and Kings’ Ajit Kerkar" comment="subhead" text="Cox and Kings’ Ajit Kerkar">Cox and Kings’ Ajit Kerkar</cmsannotation> Ajit Kerkar, now in jail, set up two trusts in the British Virgin Islands in 2010 and has connections with at least half a dozen offshore firms set up between 2010 and 2016. Most of these firms were reportedly set up by Kerkar and Shyam Maheshwari, who is a partner at Ares SSG group, an investment firm. The trusts set up by Kerkar are guarantors for loans amounting to $79 million. <cmsannotation type="cmsannotation" annotationid="Kiran Mazumdar Shaw" comment="subhead" text="Kiran Mazumdar Shaw">Kiran Mazumdar Shaw</cmsannotation> <div type="image" title="Kiran Shaw" msid="86745794" hostid="261" caption="&amp;lt;p&amp;gt;Kiran Mazumdar Shaw&amp;lt;/p&amp;gt;"></div> Her husband, a British Citizen, has reportedly set up an entity that holds 19.76% in Biocon, and has $85 million in various assets, including cash and real estate. Glentec is registered with RBI and SEBI, Shaw reportedly said, in response to queries raised by the Indian Express. <cmsannotation type="cmsannotation" annotationid="Not all investments are illegitimate" comment="subhead" text="Not all investments are illegitimate">Not all investments are illegitimate</cmsannotation> While some of the investments made by the people reported in the Pandora Papers leak could have been done to avoid taxes, they are not illegitimate if the required disclosures have been made to the relevant authorities. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/irctc-hindustan-aeronautics-zydus-wellness-and-5-others-hold-dominant-positions-in-the-market/slidelist/86736871.cms">These 8 valuable companies rule their sectors with a huge piece of the pie</a> <a href="https://www.businessinsider.in/finance/news/billionaires-and-world-leaders-including-putin-and-king-abdullah-stashed-vast-amounts-of-money-in-secretive-offshore-systems-leaked-documents-find/articleshow/86738076.cms">Billionaires and world leaders, including Putin and King Abdullah, stashed vast amounts of money in secretive offshore systems, leaked documents find</a>

Anil Ambani, Sachin Tendulkar, Kiran Shaw and other Indians named in the Pandora Papers leak

<ul><li><keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword> said Indian businesses are worried about repercussions if they criticise Prime Minister Narendra Modi’s administration. </li><li>Former Prime Minister <keyword id="6359397" type="PERSON" weightage="20" keywordseo="manmohan-singh">Manmohan Singh</keyword> also said there’s a climate of fear and mistrust among various economic participants including industrialists, bankers and policymakers. </li><li>Vodafone Chief Executive Nick Read landed himself with two lawsuits after he hinted at possible collapse in India operation. </li></ul>Industrialist and Bajaj Group chairperson Rahul Bajaj is making waves for his remarks on the Modi government. The 81-year old said Indian businesses are worried about repercussions if they criticise Prime Minister Narendra Modi’s administration. “None of our industrial friends will speak about it, but I’ll say that openly, You’re (Narendra Modi led government) doing a good job, but despite that, we’re not confident you’ll appreciate if we openly criticise you,” said Bajaj. Bajaj alleged that government is creating an environment of fear where people are not allowed to question it The comment comes at a time when the health of India’s economic growth is worse than expected. Its GDP for the second quarter fell to 4.5%. Moreso, unemployment is rising, and the banking sector is in crisis mode. Bajaj earlier too said that times are difficult time for auto sector without neither demand nor investment. In November 2019, his <keyword id="6359783" type="COMPANY" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> saw a 12% decline in sales,<a href="https://www.google.com/search?q=bajaj+auto+november+2019+sales&amp;rlz=1C1GCEU_enIN864IN864&amp;oq=Bajaj+Auto+november&amp;aqs=chrome.1.69i57j0l4.4855j0j7&amp;sourceid=chrome&amp;ie=UTF-8"> according to ET Auto. </a> Bajaj is among the handful of people who spoke against the government publicly. Former Prime Minister Manmohan Singh <a href="https://www.thehindu.com/business/Economy/45-gdp-growth-rate-unacceptable-worrisome-manmohan-singh/article30117648.ece">too said there’s a climate of fear and mistrust among various economic participants</a> — industrialists, bankers and policymakers. Here are a few others who dared to bell the cat Vodafone Chief Executive Nick Read landed himself with two lawsuits 
 
 
 
 
 
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 Vodafone chief executive Nick Read landed himself with two lawsuits. In November 2019, Vodafone CEO hinted to reporters in London about a possible collapse of its Indian operation if the government does not give relief to the massive deferred spectrum dues amounting<a href="https://www.businessinsider.in/business/corporates/news/vodafone-idea-posts-a-historic-50000-crore-loss-over-agr-dues/articleshow/72064458.cms"> to ₹44,150 crore. </a>As soon as the press conference was over, two lawsuits were filed against him, <a href="https://www.scmp.com/week-asia/economics/article/3038987/tax-terrorism-indias-slowing-economy-takes-deadly-turn-modis">reported South China Morning Post</a>. Union Telecom and Communications Minister Ravi Shankar Prasad is known to have “expressed disapproval and displeasure over the tone and tenor” of the comments to <keyword id="6354955" type="PERSON" weightage="20" keywordseo="Kumar-Mangalam-Birla">Kumar Mangalam Birla</keyword>, Vodafone’s JV partner. A day later, Read<a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/government-unhappy-over-vodafones-biz-uncertainty-remarks-ceo-says-media-distorted-statement/articleshow/72045518.cms?from=mdr"> apologised</a> to the Indian government and blamed the media coverage for distorting his remarks. He further asserted that Vodafone will “<a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/government-unhappy-over-vodafones-biz-uncertainty-remarks-ceo-says-media-distorted-statement/articleshow/72045518.cms?from=mdr">remain invested” in India.</a> Kumar Mangalam Birla criticised the UPA government 
 
 
 
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 Not just the Modi government, even the UPA was merciless when it came to dealing with dissenters. In 2012, Kumar Mangalam Birla the billionaire promoter of the $48.3 billion Aditya Birla Group, famously gave <a href="https://www.business-standard.com/article/companies/policy-paralysis-has-shaken-investors-confidence-birla-112081800054_1.html">currency to the phrase </a>'policy paralysis' which went on to describe the second five-year term of the Manmohan Singh government. What he didn't know was that soon after the sleuths at CBI would chase him after a surprise raid at a Hindalco office found Rs 5 crore unaccounted cash in its premises. This money got linked to the infamous coal allocation scam. While the firm lost its coal mine <a href="https://www.forbes.com/sites/naazneenkarmali/2013/10/15/billionaire-kumar-birla-dragged-into-indias-coalgate-scandal/#5d145b0e180a">Talbira II in Odisha</a>, Birla himself has since been acquitted in the case of the cash in one of his offices. HDFC chairman <keyword id="6448020" type="PERSON" weightage="20" keywordseo="Deepak-Parekh">Deepak Parekh</keyword> said there's no ease of doing business in India 
 
 
 
 
 
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 A year after Modi’s landslide win in 2014,<a href="https://www.hindustantimes.com/business/pm-had-9-lucky-months-impatience-creeping-in-now-deepak-parekh/story-GYM46n0eEOFUmEA44EXwMJ.html"> Parekh said Prime Minister had a lucky period in these nine months. </a> “The world commodity prices are at all-time low which help India the most. I don’t see ease of doing business changing so far,” <a href="https://www.hindustantimes.com/business/pm-had-9-lucky-months-impatience-creeping-in-now-deepak-parekh/story-GYM46n0eEOFUmEA44EXwMJ.html">he had said</a>. But he had to eat his words, and <a href="https://www.businesstoday.in/opinion/perspective/narendra-modi-govt-nine-months-deepak-parekh/story/220994.html">do a complete U-turn within five months</a>. What transpired behind the scenes is anybody's guess. India has lost confidence of the world: Ratan Tata 
 
 
 
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 In 2016, Ratan Tata the chairman emeritus of the <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword> said <a href="https://www.thehindu.com/business/Economy/india-has-lost-confidence-of-the-world-ratan-tata/article5068063.ece">India has lost the confidence of the world </a>and the government has been slow to recognise it. He said the government has “swayed” under the influence of vested interests in the private sector and policies have been “changed, delayed and manipulated”. Tata, who demitted office as Tata group chairman last December, said that Prime Minister Manmohan Singh has held India’s “esteem high but in recent times we have lost it”. Ironically, this was the same year when BJP MP Subramanian Swamy <a href="https://www.businesstoday.in/current/economy-politics/ratan-tata-most-corrupt-chairman-in-history-of-tata-group-says-subramanian-swamy/story/239254.html">filed a complaint against Tata, lobbyist Niira Radia, former Telecom Minister A. Raja and senior Unitech officials for</a> allegedly laundering money to Unitech companies to obtain 2G spectrum licence. Kiran Mazumdar Shaw, an iconic entrepreneur in the pharmaceuticals space, was asked to shut up by a government official 
	
 
 <div type="image" title="Bengaluru: Biocon Chairperson and MD Kiran Mazumdar-Shaw addresses during a pres..." msid="72335493" hostid="261" caption="&amp;lt;p&amp;gt;Biocon Chairperson and MD Kiran Mazumdar-Shaw addresses during a press conference to announce the upcoming event &amp;#39;Bengaluru Tech Summit 2019&amp;#39;, in Bengaluru.Photo) (&amp;lt;/p&amp;gt;"></div>





 After the unfortunate <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">death</a> of VG Siddhartha of Cafe Coffee Day, his billionaire friends from Bengaluru chimed in his support blaming aggressive tax officials for the demise of the coffee baron. However, Kiran Mazumdar Shaw, an iconic entrepreneur in the pharmaceuticals space, was asked to shut up by a government official. Shaw revealed <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">to the Telegraph. </a> See also <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">Narendra Modi has a new problem – big corporates and moneybags are angry</a>

From Deepak Parekh to Vodafone CEO Nick Read —  5 times corporates criticised Indian government and ran into trouble

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2G Case: A Raja’s Statement Recorded

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Anil Ambani, Sachin Tendulkar, Kiran Shaw and other Indians named in the Pandora Papers leak

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From Deepak Parekh to Vodafone CEO Nick Read — 5 times corporates criticised Indian government and ran into trouble

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