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Home -> Finance -> Full Story

SC notice to Centre, CBI over Reliance Infocomm
Monday, January 2 2006 12:26 Hrs (IST) - World Time -

New Delhi: Supreme Court today (Jan 02, 2006) issued notices to the Centre, CBI and CVC on a PIL seeking investigation for allowing Reliance Infocomm Ltd to launch its WLL services as full mobility services without paying the requisite license fee for entry into fully mobile services during the tenure of Pramod Mahajan as Communication and IT Minister.

The notice was issued by a Bench comprising Chief Justice Y K Sabharwal, Justice C K Thakker and Justice R V Ravindeeran on a petition filed by an NGO Citizens Forum against Corruption.

The petitioner also alleged that it had come to light that Reliance Infocomm allotted one crore shares to three front companies at Re 1 each as against the Rs 55 each paid by Reliance Industries Limited itself for the same share at the same time.

The circumstances surrounding the allotment of these shares raise a strong suspicion that the real beneficiary of these shares was Mahajan and his family members, petitioner's counsel Prashant Bhushan alleged.

PTI