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RComm denies involvement in 2G scam

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Reliance Communications, the flagship company of the Reliance Anil Dhirubhai Ambani Group, on Sunday denied its involvement in the 2G-spectrum allocation scam.

Issuing a detailed clarification on the company’s link with Swan Telecom in the scam, Reliance Communications Wireless Business Chief Executive Syed Safawi said that the company did not violate any norms as it held only 9.9 per cent equity share capital in the firm at the time of applying for the 2G licences.

“Neither Reliance Telecom, nor RCom, nor any Reliance ADA Group individual, company or affiliate is a beneficiary of, or has any connection with, any of the licenses issued, or spectrum granted to old and new 2G operators in January, 2008,” Syed Safawi, Reliance Communications Wireless Business Chief Executive, said in a statement.

“The grant of dual technology approval to RCom, Tata Teleservices and the two other companies was after due process of public consultation by TRAI, recommendations by TRAI to DoT and acceptance of the same by the DoT/Government of India,” he added.

Earlier, it was reported that DB Realty Managing Director Shahid Balwa has admitted that Reliance Communications had invested in his firm and helped him to start business to apply for 2G spectrum licences.

Shahid is now under Central Bureau of Investigation custody for his alleged involvement in the multi-crore 2G spectrum scam. (ANI)
Source: sify

February 13, 2011 · Filed Under Reliance Comm 
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