Tata, Idea among 10 companies under 2G probe: ED tells JPC
ED Director Arun Mathur, in a presentation to the Joint Parliamentary Committee examining the spectrum allocation, said that the probe agency has been investigating 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 Limited, Videocon Telecom, Idea Cellular, Tata Teleservices, Sistema-Shyam Telecom, Allianz Infratech which subsequently became EtisalatDB and Spice Communications which has since been merged with Idea Cellular are the companies being investigated by the ED, JPC Chairman 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, covertible preferential shares and convertible debentures by non-resident persons.
Chacko said that the the ED had sent teams of officials to tax havens like 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 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 P J Thomas, D S Mathur, J S Sarma, Nripendra Misra, Vinod Vaish, Shyamal Ghosh, Anil Kumar and A V Gokak.