ED to JPC: Tata Tele, Idea among 10 cos facing forex probe

PTI New Delhi | Updated on March 12, 2018 Published on June 08, 2011


The Enforcement Directorate on Wednesday told the Joint Parliamentary Committee that it was investigating 10 companies, including Tata Teleservices and Idea Cellular, in connection with the 2G spectrum allocation case.

The ED Director, Mr Arun Mathur, in a presentation to the JPC examining the spectrum allocation, said that the investigating agency has been probing 10 telecom companies for allegations of violation of the Foreign Exchange Management Act and the Prevention of Money Laundering Act.

Unitech Wireless (Tamil Nadu), Swan Telecom, Loop Telecom, S-Tel Ltd, Videocon Telecom, Idea Cellular, Tata Teleservices, Sistema-Shyam Telecom, Allianz Infratech which subsequently became Etisalat DB and Spice Communications which has since been merged with Idea Cellular are the companies being investigated by the ED, the JPC Chairman, Mr P.C. Chacko, told reporters here.

He said the ED, in the course of investigations, found FEMA violations by way of foreign direct investment through purchase of equity shares, convertible preferential shares and convertible debentures by non-resident persons.

Mr Chacko said that the ED had sent teams of officials to tax havens such as Isle of Mann, British Virgin Islands in connection with the investigations.

Meanwhile, the JPC has decided to call all former Telecom Secretaries since 1998, including Mr Siddharth Behura who has been jailed in connection with the 2G scam, as witnesses for recording of evidence when the Committee meets next on July 7-8.

Among those asked to appear as witness are Mr P.J. Thomas, Mr D.S. Mathur, Mr J.S. Sarma, Mr Nripendra Misra, Mr Vinod Vaish, Mr Shyamal Ghosh, Mr Anil Kumar and Mr A.V. Gokak.

Published on June 08, 2011
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