This is the fifth arrest in connection with the 2G spectrum scam.
Shahid Balwa was arrested in February 8 by the CBI for his alleged involvement in the 2G spectrum scam. He is currently lodged in the Tihar jail of Delhi.
The supposed chief architect of the spectrum scam former telecom minister A Raja was also arrested prior to Balwa and is locked in the same jail.
Swan Telecom is believed to be one of the beneficiaries in the spectrum allotted during A Raja’s tenure.
The matter came to light after the Comptroller and Auditor-General (CAG) of India exposed serious irregularities in the allocation of 2G spectrum.
Though experts are still working on the actual figures, it is estimated that the 2G spectrum scam has caused losses to the tune of Rs 1.76 lakh crore to the national exchequer. It is dubbed as country`s biggest corruption scandal till date.