CBI reiterates, probing on Tata-Unitech covert financing in 2G Scam

Swamy argues ED should also probe

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]B[/dropcap]JP leader Subramanian Swamy on Wednesday argued in 2G Court that apart from Central Bureau of Investigation (CBI), the Enforcement Directorate (ED) should also be directed to probe the covert financing of Rs.1700 crores ($254 million) by Tata Group to Unitech to acquire telecom licenses during 2G Scam. Producing CBI’s communication to him before the Court, Swamy said CBI confirmed that they are still probing the matter, found by the Serious Frauds Investigation Office (SFIO).

Swamy said that apart from Ratan Tata, Unitech’s Sanjay Chandra, controversial lobbyist Niira Radia should also be prosecuted.

Swamy argued that for the past three years, CBI is taking the stand that they are probing the matter and the Court should seek status report. Judge OP Saini did not oblige to Swamy’s demand, allowing him to provide more info or documents, if any on the next hearing May 31.

BJP leader said the way the illegal money transfer of Rs.1700 crores ($254 million) from Tata group companies to Unitech was made was nothing but money laundering and case under PMLA should be registered. “This covert financing of Rs.1700 crores ($254 million) is nothing but money laundering. ED should be directed to register case under PMLA. This Court can direct to ED also. CBI should not allow to go on and on saying that they are probing. My Lord can seek a status report from CBI,” Swamy reitrated.

In his petition, Swamy said that apart from Ratan Tata, Unitech’s Sanjay Chandra, controversial lobbyist Niira Radia should also be prosecuted.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]T[/dropcap]he issue pertaining to certain land deal investments by Tata Group in Unitech, as reflected in the Report of SFIO, has been examined by CBI and findings thereof have been reported to Supreme Court vide progress reports/affidavits filed in sealed cover including progress report dated July 6, 2011.

“Further investigation on some aspects relating to the role of Tata in 2G Spectrum case is continuing under due intimation to Supreme Court vide progress report dated Jun 12, 2014. The Court of Special Judge has also been duly intimated in this regard,” said CBI letter dated February 28.
Note:
1. The conversion rate used in this article is 1 USD = 66.83 Rupees.
2. Text in Blue points to additional data on the topic.