Sateesh Seth, non-executive Director of Reliance Telecom Ltd (RTL) and a chartered accountant, said he, Anil Ambani, S P Shukla and Gautam Doshi, an accused in the case, had attended the April 29, 2007, board meeting of RTL.
"I have also been shown a certified true copy of extract of the minutes of the meeting of board of directors of Reliance Telecom Limited held on April 29, 2007. I myself attended this meeting. This meeting was also attended by S P Shukla, Gautam Doshi and Anil Ambani. "......In this meeting, the board noted that 'investment in 99,20,000 8 per cent non-cumulative redeemable preference shares (NCRPS) each of Rs 1 each at a premium of Rs 999 per preference share aggregating to Rs 992 crore of Swan Telecom (P) Limited (STPL) was in the nature of long-term strategic investment," Seth told Special CBI Judge O P Saini.