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A joint team of the Enforcement Directorate and the CBI will visit Mauritius and Cyprus early next month to unearth the money trail of the multi-crore 2G spectrum allocation scam.
The team of investigators will find out transactions routed through these countries in the dubious telecom firms that gained as a result of the controversial award of the 2G licences and spectrum.
The move is necessitated as the agency will have to file its final chargesheet by May 31, according to a top CBI official, who added that the investigation will now focus on telecom companies S Tel and Loop Telecom.
The evidence gathered from these two countries, considered to be tax havens, will help in nailing Loop and S Tel, according to sources.
The CBI official said a new chargesheet will be filed against them once the investigation is completed. Reliance Telecom has already been chargesheeted by the CBI in the 2G scam.
In its first chargesheet, the CBI has named one of the executives of Reliance Telecom, Gautam Doshi, as an accused and alleged that he was involved in “structuring and funding” Swan Telecom and Tiger Traders (the associate company of Reliance ADAG, which has equity in Swan) and other companies.
The investigating agency has alleged that decisions regarding transfer of funds to Tiger Traders/ Swan Telecom were taken by Doshi.
Swan Telecom, a front company of Reliance ADAG, was being controlled by Mauritius-based Delphi Investments.
The agency has sent Letters Rogatory to Mauritius seeking details of stakeholders and beneficiaries in Delphi Investments.
The agency is probing whether Delphi Investments is a front company of Reliance Telecommunication.
Reliance Telecom had sold its 9.9 per cent stake in Swan Telecom to Delphi Investments, the official added.
The team of investigators will find out transactions routed through these countries in the dubious telecom firms that gained as a result of the controversial award of the 2G licences and spectrum.
The move is necessitated as the agency will have to file its final chargesheet by May 31, according to a top CBI official, who added that the investigation will now focus on telecom companies S Tel and Loop Telecom.
The evidence gathered from these two countries, considered to be tax havens, will help in nailing Loop and S Tel, according to sources.
The CBI official said a new chargesheet will be filed against them once the investigation is completed. Reliance Telecom has already been chargesheeted by the CBI in the 2G scam.
In its first chargesheet, the CBI has named one of the executives of Reliance Telecom, Gautam Doshi, as an accused and alleged that he was involved in “structuring and funding” Swan Telecom and Tiger Traders (the associate company of Reliance ADAG, which has equity in Swan) and other companies.
The investigating agency has alleged that decisions regarding transfer of funds to Tiger Traders/ Swan Telecom were taken by Doshi.
Swan Telecom, a front company of Reliance ADAG, was being controlled by Mauritius-based Delphi Investments.
The agency has sent Letters Rogatory to Mauritius seeking details of stakeholders and beneficiaries in Delphi Investments.
The agency is probing whether Delphi Investments is a front company of Reliance Telecommunication.
Reliance Telecom had sold its 9.9 per cent stake in Swan Telecom to Delphi Investments, the official added.
