2G Scam: Anil Dhirubhai Ambani group rocked

Anil Ambani was the face of young, dynamic corporate India but now Anil Dhirubhai Ambani's group is being rocked by the biggest corruption scandal in recent times. CBI's chargesheet in the 2G case slams ADA group for conspiring to cheat the exchequer of thousands of crores along with A Raja and others.
Three of the top names of the group have been individually charged for abetment of cheating, criminal conspiracy, bribing government servants and forgery. While Reliance Telecom Limited itself has been named in the chargesheet for similar offences.
CBI chargesheet says that Gautam Doshi, group managing director, Reliance ADA group; Surendra Pipara, senior vice president of ADAG and Reliance Telecom and Hari Nair, senior VP ADAG, floated Swan Telecom as a front company of Reliance for getting 2G license.

CBI alleges that the trio formed Swan out of funds arranged from Reliance Telecom with the common intention to cheat.

They violated UASL guidelines that a company which was already operating as a telecom service provider in a circle could not through any subsidiary get another license.

Reliance had so far contented that they had only 10 per cent stake in Swan but CBI investigations has busted that claim.

CNN-IBN had first reported that Reliance infact set up Swan. Based on the letter from Swan promoter Shahid Usman Balwa to CBI.

Now the chargesheet says investigations disclosed that Swan at the time of application for 2G license was an associate of Reliance ADA group.

Chargesheet says that Hari Nair and Gautam Doshi deliberately took a circuitous route to transfer money from Reliance to Swan via various companies like Tiger Traders to conceal the Reliance-Swan link. And the duo along with Surendra Pipara dishonestly misrepresented to dot these facts.

The ministry of corporate affairs too has confirmed to CBI that Swan Telecom was an associate of Reliance Telecom Ltd.

Reliance ADA group has said they will give a statement on the allegations only after going through the entire chargesheet.

Anil Ambani was called to the CBI headquarters last month to clarify his company's dealings with Swan. While CBI has so far made no allegation against Ambani itself, his company's name has been dragged in. Atleast two more supplementary chargesheets are due in this case and its only then that it will be clearer if only the three ADAG officials named were responsible for cheating the exchequer.