 "CBI court summons Anil, Tina Ambani as witnesses in 2G case")
The plea of the Central Bureau of Investigation (CBI) to summon Reliance Communications Chairman Anil Ambani and his wife, Tina Ambani, besides 11 others, as witnesses in the 2G spectrum allocation case, got the special court’s backing on Friday.
Special CBI judge O P Saini said both Anil and Tina Ambani were “supposed to be acquainted with” the investments and divestments of Swan Capital and Swan Telecom and their “examination may help reach the truth and just decision of the case”.
CBI had told the court Anil was part of decision-making to invest Rs 992 crore in Swan Telecom, while Tina had presided over the meetings of Swan’s holding companies. So, they should be made witnesses to further the cause of justice.
Ambanis’ counsel maintained CBI wanted to call the Ambanis to court to embarrass them and they had nothing to do with the day-to-day functioning of the company.
Vijay Aggarwal, counsel for DB Group’s Shahid Balwa, said he would approach the Supreme Court against the order. This could be the next logical step for Reliance Group, too.
In its plea, CBI had said the RCom chairman was responsible for incorporation of shell companies, including Swan Telecom, Tiger Traders, Zebra Consultants, Parrot Consultants and Giraffe Consultancy, and their interlocking equity structures. The agency expects him to shed some light on the corporate structuring of Swan, the investment and divestments into and out of the company and its decision to apply for a unified access service licence.
CBI sought Tina Ambani to be summoned in her capacity of director and chairperson of ADAE Ventures and AAA Consultancy, which did multiple transactions with Tiger Traders. She was also authorised to transact on behalf of Tiger and Swan, without a limit on value. Her testimony is required to depose the person responsible for the transfer of Swan to DB Group in October 2007, according to CBI.
The RCom scrip on Friday fell 0.96 per cent from its previous close on BSE to Rs 145.15.
Special CBI judge O P Saini said both Anil and Tina Ambani were “supposed to be acquainted with” the investments and divestments of Swan Capital and Swan Telecom and their “examination may help reach the truth and just decision of the case”.
CBI had told the court Anil was part of decision-making to invest Rs 992 crore in Swan Telecom, while Tina had presided over the meetings of Swan’s holding companies. So, they should be made witnesses to further the cause of justice.
Ambanis’ counsel maintained CBI wanted to call the Ambanis to court to embarrass them and they had nothing to do with the day-to-day functioning of the company.
Vijay Aggarwal, counsel for DB Group’s Shahid Balwa, said he would approach the Supreme Court against the order. This could be the next logical step for Reliance Group, too.
In its plea, CBI had said the RCom chairman was responsible for incorporation of shell companies, including Swan Telecom, Tiger Traders, Zebra Consultants, Parrot Consultants and Giraffe Consultancy, and their interlocking equity structures. The agency expects him to shed some light on the corporate structuring of Swan, the investment and divestments into and out of the company and its decision to apply for a unified access service licence.
CBI sought Tina Ambani to be summoned in her capacity of director and chairperson of ADAE Ventures and AAA Consultancy, which did multiple transactions with Tiger Traders. She was also authorised to transact on behalf of Tiger and Swan, without a limit on value. Her testimony is required to depose the person responsible for the transfer of Swan to DB Group in October 2007, according to CBI.
The RCom scrip on Friday fell 0.96 per cent from its previous close on BSE to Rs 145.15.