Tweet
Balwa bought ADAG firm’s shares in my name: Uncle
A relative of accused Shahid Usman Balwa (promoter of Swan Telecom) told a special CBI court on Friday that Shahid had purchased shares of an alleged associate firm of Reliance ADA group in his name. Deposing as third prosecution witness, Ashraf Saleh, Balwa’s uncle, said that in February 2007, just a few days before applying for the spectrum licenses, shares of a firm were bought in his name. Saleh, however failed to recollect whether he was told about the name of the company whose shares were purchased,-Giraffe consultancy Pvt Ltd, an alleged group firm of RADAG, later taken over by DB Realty.
Saleh told Special CBI judge OP Saini, “I have been shown a document, according to which 1,667 shares of a company namely Sidharath Consultancy Pvt Ltd (earlier named Giraffe Consultancy) have been shown to be purchased in the name of Asharf Saleh. I am Ashraf Saleh.” Saleh said he had received a call from Deodatta Pandit, a DB Realty official who told him that Balwa was purchasing shares in his name.
According to CBI, Sidharath Consultancy, which was earlier named Giraffe Consultancy, was a company originally owned by RADAG and ownership of this firm was transferred to Shahid Balwa on February 25, 2007. “I was called by Deodatta Pandit for signing some papers on instructions of Shahid Usman Balwa in February 2007 and I signed these papers. I do not remember if I was told that these shares were of Giraffe company,” he said. Reliance ADAG-led Reliance Telecom (RTL) and Swan Telecom have been put on trial by the court which said Swan Telecom was ‘just a mask’ for RTL to secure the 2G licenses, a charge denied by ADAG.
Saleh is the manager of a Mumbai-based hotel which is owned by the father of Asif Balwa, another accused in the case. The witness said that when he questioned Pandit why no money was being taken from him, Pandit said, “These shares were being taken temporarily in his name.”
A relative of accused Shahid Usman Balwa (promoter of Swan Telecom) told a special CBI court on Friday that Shahid had purchased shares of an alleged associate firm of Reliance ADA group in his name. Deposing as third prosecution witness, Ashraf Saleh, Balwa’s uncle, said that in February 2007, just a few days before applying for the spectrum licenses, shares of a firm were bought in his name. Saleh, however failed to recollect whether he was told about the name of the company whose shares were purchased,-Giraffe consultancy Pvt Ltd, an alleged group firm of RADAG, later taken over by DB Realty.
Saleh told Special CBI judge OP Saini, “I have been shown a document, according to which 1,667 shares of a company namely Sidharath Consultancy Pvt Ltd (earlier named Giraffe Consultancy) have been shown to be purchased in the name of Asharf Saleh. I am Ashraf Saleh.” Saleh said he had received a call from Deodatta Pandit, a DB Realty official who told him that Balwa was purchasing shares in his name.
According to CBI, Sidharath Consultancy, which was earlier named Giraffe Consultancy, was a company originally owned by RADAG and ownership of this firm was transferred to Shahid Balwa on February 25, 2007. “I was called by Deodatta Pandit for signing some papers on instructions of Shahid Usman Balwa in February 2007 and I signed these papers. I do not remember if I was told that these shares were of Giraffe company,” he said. Reliance ADAG-led Reliance Telecom (RTL) and Swan Telecom have been put on trial by the court which said Swan Telecom was ‘just a mask’ for RTL to secure the 2G licenses, a charge denied by ADAG.
Saleh is the manager of a Mumbai-based hotel which is owned by the father of Asif Balwa, another accused in the case. The witness said that when he questioned Pandit why no money was being taken from him, Pandit said, “These shares were being taken temporarily in his name.”
