Policy & Regulation | | 2G scam :ED questions Former SpiceJet promoter | | TT Correspondent | | 07 May 2011 | | |
Enforcement Directorate has questioned former promoter of SpiceJet Ajay Singh in connection with the 2G scam investigations. According to Times of India, the agency is probing Singh's link with Allianz Infratech which is suspected be a front of the DB Group.
ED sources said Singh was questioned for two days earlier this week. Singh's detailed statement was recorded and further investigations were on, sources said. Singh had exited as the founding director from the low cost airline last year.
Confirming that he had given his statement to ED, Singh said, "I have cooperated with the agency. I don't have anything to hide because my company (Allianz Infratech) did not get spectrum at all."
Agency sources claimed that Singh's questioning had helped to figure out the fund flow between Etisalat DB Telecom and Allianz Infratech. Sources said the timing of the sale of stakes of Allianz Infratech to DB Telecom before UAS licences were awarded was of interest to them.
The investigations have also revealed that Allianz Infratech was found to be ineligible for UAS licences.
The ED investigation has revealed that Etisalat DB Telecom acquired Allianz Infratech (UAS licence allottee for Bihar and MP) for Rs 109.5 crore. The agency is also probing the payment pattern of the deal in which Rs 106.84 was paid to Telespice Wireless Pvt Ltd by DB Tele Wimax Pvt Ltd on behalf of M/s Swan Telecom for purchase of shares of Allianz Infratech.
AS reported by The Times of India |
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