Agencies provide 2G update to SC

Sep 02, 2011 - S.S. Negi |

Age Correspondent

New Delhi

The probe agencies on Thursday submitted further progress reports in 2G scam case to the Supreme Court with Enforcement Directorate informing about the attachment of properties worth `223 crore for offences of money laundering and CBI stating that its probe in the second part of spectrum allocation against three former ministers is still on.

CBI and ED’s special counsel K.K. Venugopal said apart form attaching the properties worth `223 crore, investigation has entered into crucial phase regarding laundering of nearly `10,000 crore by several companies and it would be over in the next 15 days.
CBI and ED teams were waiting for sanction from Swiss authorities for investigation in the world’s biggest tax haven and the Swiss government’s permission is expected by Friday and sanction for another round of probe in Mauritius is likely to come from that country by September 20.
The violations of the Prevention of Money Laundering Act (PMLA) was mainly probed in UK, Cyprus, Channel Island, Mauritius, Singapore and some other foreign destinations, a bench of Justices G.S. Singhvi and A.K. Ganguly, monitoring the probe by CBI, ED and Income-Tax department, was informed by Mr Venugopal.
With regard to the probe on allocation of spectrum during the tenures of former telecom ministers Pramod Mahajan, Arun Shourie and Dayanidhi Maran (NDA), and holding charge during UPA-I, it was underway on the basis of a separate preliminary enquiry (PE) registered by the CBI but “so for no substantial evidence” has come to light against them. The PE was registered on the orders of the apex court. The CBI counsel also hinted that the agency might seek a clarification from the then finance minister, Jaswant Singh, on the spectrum price for being head of the GoM on telecom (during the NDA government). Regarding the attachment of properties under PMLA, Mr Venugopal said showcause notices had been issued to the defaulting companies but it was a long-drawn process and would take some time to complete the procedure.

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