CBI arrested Balwa over his and his companies alleged role in the second generation telecom spectrum scandal. Balwa in his letter to the CBI, admitted that Reliance Telecom had invested in his company.
Balwa also admitted that ADAG helped him to set up business to apply for 2G spectrum licenses.
Anil Ambani's ADAG spokesperson stated, "As part of its ongoing investigations pursuant to the Hon'ble Supreme Court's orders, the CBI is reportedly examining a large number of telecom companies and their officials over the past several weeks, in relation to various matters relating to the years 2001 to 2008."
"As part of this process, CBI has also examined a few officials of Reliance ADA Group, and we are fully co-operating with the authorities in this regard," added the spokesperson.