Swan Telecom was indirectly funded by ADAG: court

Written by: Pti
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New Delhi, Feb 25 (PTI) A Delhi court today said RelianceTelecom Limited of ADAG group of companies had already beengranted 2G spectrum license in some circles and, as such, SwanTelecom Pvt Ltd, its associate company, was not eligible forthe same.

"M/s Reliance Telecom Limited of ADAG group of companieshad already been granted license in some circles and, as such,M/s Swan Telecom Pvt Ltd, its associate company, was noteligible for license," Special CBI Judge O P Saini said whilerejecting the bail plea of Swan Telecom promoter Shahid UsmanBalwa and R K Chandolia, former personal secretary of formerTelecom Minister A Raja in 2G spectrum allocation scam.

Dismissing their bail applications, the court consideredthe fact that Swan Telecom Pvt Ltd, promoted by Balwa, wasineligible for 2G licenses as the holding firm of the companywas indirectly funded by Anil Dhirubhai Ambani Group (ADAG).

The court said Swam Telecom should not have applied forlicenses in the first place as it was incorporated by M/sReliance group of companies and thus was ineligible.

Rejecting the bail pleas, the court said the accused are"high ranking public servants" and "influential" who maytamper with the probe.

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