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Policy & Regulation
PAC questions Anil Ambani on Swan stake
TT Correspondent |  |  06 Apr 2011

Reliance Communications chairman Anil Ambani was questioned by Parliament''s Public Accounts Committee in connection with alleged irregularities in the 2G spectrum allocation. 
 
Ambani, who was questioned for over two hours by the PAC headed by senior BJP leader Murli Manohar Joshi, answered most of the questions in a candid, courteous manner, but he also listed out his grievances in his introductory speech. 

 

"Anil Ambani spoke freely but at some places he sought immunity saying that the matter was sub-judice. On some other questions, he told us that he would send written replies in a day or two after referring to relevant documents," Joshi told reporters here.


Questions were lobbed at Anil on dual technology and excess spectrum and how he bagged the 2G licence before anyone. Ambani was also grilled on his links with Swan Telecom and whether it was a front company of RComm.
 

Swan bought mobile telephony licences for 13 circles for USD 340 million and later sold a 45 per cent stake to Dubai-based Etisalat for USD 900 million, taking its valuation to USD two billion without a single subscriber.


The ADAG boss, however, skirted some queries, clearly telling the PAC that everything is legal and he wouldn't answer all questions as the matter is sub judice.
 
Anil, however, said auction of licences is better than the 'first-come first-serve' policy. 


The PAC earlier quizzed Tata Sons chairman Ratan Tata and corporate lobbyist Nira Radia in connection with the 2G spectrum scam. The panel had quizzed Radia for two hours and Tata for three hours on issues related to the scam.

    
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06 Apr 2011(IST)  
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