Reliance link with 2G scam - exposed?
The company, in a press meet, clarified its role as it stated, "Reliance Telecom held only 9.9 percent of the equity share capital of Swan Telecom, at the time of filing the relevant license application in Mar 2007," and it also added, "This shareholding was fully disclosed at inception, and this information has always been in the public domain."
"Reliance Communications has not violated any of its license conditions at any stage, on account of cross-holdings of 10 percent or above in any another Licensee, and is in full compliance with all applicable DoT guidelines, rules and regulations," stated the official.
"Neither Reliance Telecom, nor RCOM, nor any Reliance ADA Group individual, company or affiliate held even a SINGLE share in Swan Telecom Ltd., at the time of grant of the 2G license to them in Jan 2008, or at any time thereafter," continued his statement.
Pointing at Reliance Communication's competitors, the official claimed, "It is unfortunate that a malicious campaign of disinformation, falsehoods and calumny is being spread by RCOM's telecom industry competitors and corporate rivals to put up a smokescreen."