Swan Telecom was indirectly funded by ADAG
New Delhi: A Delhi court today said Reliance Telecom Limited of ADAG group of companies had already been granted 2G spectrum license in some circles and, as such, Swan Telecom Pvt Ltd, its associate company, was not eligible for the same.
“M/s Reliance Telecom Limited of ADAG group of companies had already been granted license in some circles and, as such, M/s Swan Telecom Pvt Ltd, its associate company, was not eligible for license,” Special CBI Judge O P Saini said while rejecting the bail plea of Swan Telecom promoter Shahid Usman Balwa and R K Chandolia, former personal secretary of former Telecom Minister A Raja in 2G spectrum allocation scam.
Dismissing their bail applications, the court considered the fact that Swan Telecom Pvt Ltd, promoted by Balwa, was ineligible for 2G licenses as the holding firm of the company was indirectly funded by Anil Dhirubhai Ambani Group (ADAG).
The court said Swam Telecom should not have applied for licenses in the first place as it was incorporated by M/s Reliance group of companies and thus was ineligible.
Rejecting the bail pleas, the court said the accused are “high ranking public servants” and “influential” who may tamper with the probe.