2G: CBI probing Anil Ambani; Reliance stocks dip

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Anil Ambani

Mumbai, Sept 30: Reliance Anil Dhirubhai Ambani Group (ADAG) faced a red day on Friday, Sept 30 when its stocks dipped making a "shameful" record in the history of the company.

Led by Reliance Capital, other companies of Anil Ambani group - RCap, Reliance Infrastructure, Reliance Communications, Reliance Power and Reliance Mediaworks also saw a down trading on Friday.

Meanwhile, media reports supported by experts note, Anil Ambani group stocks have lost almost half their market capitalisation over 2010.

The sudden crash in Anil Ambani's group is a direct effect of 2G spectrum scam. CBI, reminding people about Anil Ambani's alleged role in the telecom scam, stated that it has been probing him (Anil Ambani) since the second generation telecom scam hit the nation.

Meanwhile, the CBI also claimed that the three senior executives of the ADAG, who are under arrest, may turn approvers. The result of the same will be that the “real beneficiaries" of the multi-crore scam will come to light.

The executives who are jailed at Tihar include Gautam Doshi (managing director, Reliance ADAG); Surendra Pipara (senior vice- president of ADAG and Reliance Telecom) and Hari Nair (senior vice-president ADAG). They took a complete u-turn in the Delhi High Court recently when they declared that they were only employees and did not benefit from the scam. They were being accused of conspiracy and abatement to cheating in the 2G scam.

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