Balwa is the promoter of the chargesheeted company Swan Telecom which is now known as Etisalat DB Telecom Pvt Ltd.
In its charge sheet, the CBI had alleged Swan Telecom was acting as a "front" company to secure 2G licences for Reliance ADA Group (RADAG). The RADAG has denied this allegation.
During the recording of statement of prosecution witness Ujjwal Mehta, the managing director of a DB group firm, the CBI said he is trying to save his "boss" by deposing falsely regarding the handing over of share transfer forms of Giraffe Consultancy Services (P) Limited, an alleged associate company of RADAG, to him by Balwa.
Mehta, the general manager of Real Gem Buildtech, a DB group firm, however, denied the CBI's allegations saying that during the probe into the case, he had not told the investigating officer (IO) that the share transfer forms were handed over to him by Balwa.
He also denied he is saving Balwa and said, "It is wrong to suggest that I am deposing falsely in order to save Shahid Usman Balwa, he being the top boss of the company.
"It is absolutely wrong to suggest that I am deposing falsely as my job may come to under fire for stating the truth," he told Special CBI Judge O P Saini.
Balwa, along with former Telecom Minister A Raja, three top executives of RADAG and others, are facing trial in the case for various offences like cheating, forgery, criminal conspiracy and faking documents under the IPC and for the offences punishable under Prevention of Corruption Act. (More)