Welcome Guest Login | Register | Site Map | | Make TelecomTiger my homepage     
Telecom News
Enterprise |  Policy & Regulation |  Mobiles & Tabs |  Corporate |  VAS |  People Movement  |  Technology  |  LTE
Policy & Regulation
2G: Prosecution witness says Anil Ambani was not director of Swan Telecom
TT Correspondent |  |  01 Feb 2012

A prosecution witness and Reliance Infrastructure Ltd''s senior executive vice-president Ashish Tambawala on Tuesday told the CBI court that chairman of Reliance ADA Group Anil Ambani was not the director of Swan Telecom Pvt Ltd and Tiger Traders Pvt Ltd.

"Anil Ambani was not director of Swan Capital Pvt Ltd/Swan Telecom Pvt Ltd and Tiger Traders Pvt Ltd," he told Special CBI Judge O P Saini.


He said Reliance ADA Group is an umbrella of several companies belonging to it and he, during his tenure with the group, has been the authorised signatory of 150 to 200 firms. 

"I have been authorised signatory of 150 to 200 companies during my tenure with Reliance ADA Group. Reliance ADA Group is an umbrella of several companies belonging to the group. 

"Each company of the group has its own separate identity. Reliance ADA Group is generic name without any legal identity," he said. 

The CBI, in its charge sheet in the 2G case, had alleged that Tiger Traders Pvt Ltd and Swan Telecom Pvt Ltd were associate companies of Reliance ADA Group. 

He said that one can be made be authorised signatory of a company irrespective of being its shareholder or a director or an employee. 

He said that he had been an authorised signatory of many companies of which Anil Ambani has not been chairman during my tenure with the Reliance ADA Group. I have been authorised signatory of companies in which individuals were shareholders and not necessarily that shareholders were Reliance companies.

Tambawala said that it was customary for companies doing business with each other to keep transferring their funds from one company to another. His cross examination would continue tomorrow.

    
 mail this article    print this article    Show and Post comment
01 Feb 2012(IST)  
Whitepaper
Maintain Business Continuity with Cisco ASR 9000 nV Technology
It is a virtual chassis solution where a pair of ASR 9000 routers acts as a single device by maintaining a single contr...read more
Simplify Your Network with Cisco ASR 9000 nV Technology
With the new Cisco Network Virtualization (nV) technology in the Cisco ASR 9000 Series Aggregation Services Routers, se...read more
Cisco Small Cell Solution: Reduce Costs, Improve Coverage
It is designed to address the challenge of mobile service coverage and to expand network capacity...read more