Swamy files petition in 2G Court against Ratan Tata & Niira Radia for covertly funding Unitech licenses

Quoting the SFIO findings, Swamy has filed a petition against Ratan Tata & Niira Radia in the 2G Court

Quoting the SFIO findings, Swamy has filed a petition against Ratan Tata & Niira Radia in the 2G Court
Quoting the SFIO findings, Swamy has filed a petition against Ratan Tata & Niira Radia in the 2G Court

Senior BJP leader Subramanian Swamy on Friday filed petition in 2G Court against Industrialist Ratan Tata and lobbyist Niira Radia for covertly funding Unitech’s 2G licenses. Producing a report of Serious Frauds Investigation Office (SFIO), Swamy said CBI has not yet acted on the criminality and violations committed by Tata. The SFIO report unearthed that Unitech Group’s telecom license fee of Rs.1700 crores ($250 million) was funded by Tata and it is a clear violation as Tata was not allowed to do such things as his group was engaged in telecom operations.

Being an existing operator, Tata Group was not allowed to finance other company’s telecom operations, as per telecom guidelines.

Swamy also demanded that Enforcement Directorate should also probe into the money laundering charges established by SFIO. His petition also made former Telecom Minister A Raja, Unitech owners Ramesh Chandra, Sanjay Chandra and Ajay Chandra as respondents for engaging with Tata and Radia in illegalities.

SFIO under Ministry of Corporate Affairs in 2012 found that Rs.1700 crores ($250 million) was originated from Tata Sons and through Tata Realty and Infrastructure Limited (TRIL), Unitech group received this money to pay for controversial 2G license fee. Being an existing operator, Tata Group was not allowed to finance other company’s telecom operations, as per telecom guidelines. “This is a clear violation of Clause 5 and 8 of Telecom Guidelines of 2005,” said Swamy, adding that CBI conveniently did not probe on this matter.

Arguing before the Judge O P Saini, Swamy pointed out that Tata Group had admitted this violation and a fine of Rs.40 crores ($6 million) was imposed. He also said Raja has already admitted in 2G Court that Tata and Radia met him during this period at his home during the controversial 2G licenses allocation to Unitech.

“However CBI did not pursue the illegalities committed by Ratan Tata in the 2G Scam in relation to granting of licenses to Unitech. SFIO report clearly shows that money was laundered from Tata to Unitech in covert ways and ED should be directed to probe under PMLA,” said Swamy. The next hearing in this case is posted on January 11, where Swamy is expected to make detailed arguments on the matter.

Copy of the SFIO Report

SFIONiraRadiaTata Unitech by PGurus on Scribd



Note:
1. The conversion rate used in this article is 1 USD = 67.83 Rupees.
2. Text in Blue points to additional data on the topic.

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