Govt. to probe whether Swan was front for RCom

Monday, 29 November 2010, 17:46 Hrs
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New Delhi: The government today said it will ask the Ministry of Corporate Affairs to investigate the CAG allegation that Swan Telecom, which got licences and spectrum in 2008, acted as a front company of Anil Ambani-led RCom.

"We are referring (Swan Telecom) to the Ministry of Corporate Affairs to actually find out and investigate if there are any front companies involved," Telecom Minister Kapil Sibal told reporters here.

"And if we find, pursuant to that investigation, that there was any wrong-doing, we will take action," he added.

According to a report by the Comptroller and Auditor General (CAG), Swan Telecom appeared to be acting as a front company for Reliance Telecom, a 100 per cent subsidiary of RCom.
Source: PTI
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