27.04.2011 | 23:49
Soibam Rocky Singh
In the 2G hearing before the Supreme Court today, the Enforcement Directorate (ED) submitted their latest report on the ongoing investigation. The report which was filed in a sealed cover mentioned the names of two companies involved in the scam.
Senior counsel KK Venugopal appearing for the ED while submitting the report said, “Property amounting to Rs. 2,000 Crores of the two companies will be attached.” He however did not reveal the names of the two companies.
KK Venugopal said the process of attachment of property of the companies under the Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA) will be initiated soon. He also said that the Central Bureau of Investigation (CBI) has sought two months time for completing the process.
KK Venugopal also said that the ED was also investigating five foreign companies allegedly involved in the scam.
The Bench of Justice GS Singhvi and Justice AK Ganguly asked, “What is the response of RBI?” on the matter.
KK Venugopal replied, “We will bring it to their notice soon,” assuring RBI will be informed about the matter soon.
Prashant Bhushan questions lack of rationale in CBI’s charge sheet
Terming the telecommunication spectrum including the 2G spectrum which was allotted to private player as a national resource, advocate Prashant Bhushan appearing for Centre for Public Interest Litigation (CPIL) said, “This kind of privatization of public resources has to be done transparently and through public auction.”
Questioning the lack of rationale in CBI’s charge sheet, Prashant pointed out before the bench that while three core members of the Reliance ADAG company has been named in the charge sheet, the chairman of the company who is also 50% stake holder of the company is not named anywhere. “How is it possible that in a company, where thousands of crores were financed by Reliance, (SWAN was entirely financed by Reliance) without the consent of the head of the company,” Prashant questioned. He also argued that the accused named by CBI in the charge sheet were only the workers of the company and not beneficiaries.
During the hearing Janata Party chief, Subramanian Swamy asked for adequate security of one of the key whistleblowers. He appealed before the Bench for the central police to continue providing security to the whistleblowers.