A unit of Indian mobile operator Reliance Communications (RCom) has filed a petition to quash charges framed against the company by a Special Judge, in relation to the 2G scam in the country.
Origins of the scandal date back to early 2008 when…
A unit of Indian mobile operator Reliance Communications (RCom) has filed a petition to quash charges framed against the company by a Special Judge, in relation to the 2G scam in the country.
Origins of the scandal date back to early 2008 when underpriced spectrum was allegedly allocated to some telecom operators, reportedly costing the government US$39bn in lost revenues.
In a statement on 22 October, Reliance said: “The framing of charges is a preliminary stage in the commencement of the trial process. The framing of charges is not a finding of guilt by the Special Court.
“Reliance Telecom and the 3 executives are very confident of mounting a successful defence in the trial proceedings, against the charges framed. The substantive charges framed on Reliance Telecom and the 3 executives remain limited only to the alleged abetment to cheating by others, as part of an alleged conspiracy.”
The trial is scheduled to start on 11 November 2011.
Similarly, UAE-based Etisalat said in a notice to the Abu Dhabi Securities Exchange that charges have been framed against Swan Telecom, now known as Etisalat DB, in which the company holds a 44.7% stake.
“The charges relate to events that occurred at least one year prior to Etisalat’s investment in Swan. Etisalat had no knowledge of any wrong-doing in the licence application process for Swan and had no involvement in it,” Etisalat said in its notice.
“Moreover, insofar as Etisalat has been able to investigate the position, it has not established any basis for the charges levied against EDB [Etisalat DB] and it expects EDB to defend the charges resolutely.”
Etisalat and Indian conglomerate DB Group together own Etisalat DB. Swan became EDB several months after Etisalat acquired a stake in the company for US$900m in September 2008.
