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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World India's Anil Ambani group says officials probed over 2G scam AFP - Sunday, February 13 Send IM Story Print India's Anil Ambani group says officials probed over 2G scam NEW DELHI (AFP) - – India's Reliance Group said Saturday police investigators had "examined" several of its officials over alleged irregularities in the awarding of 2008 mobile phone licences. The statement marked the latest development in a widening probe into the government's 2008 sale of second generation, or 2G, licences at knockdown prices which has become one of the biggest corruption cases in India's history. The Central Bureau of Investigation (CBI) has "examined a few officials of Reliance ADA Group, and we are fully co-operating with the authorities in this regard," a spokesman for the group told AFP, declining to elaborate. Reliance ADA Group, controlled by tycoon Anil Ambani who is listed sixth on the 2010 Forbes list of India's billionaires with $13.3 billion, includes the country's second-largest mobile firm Reliance Communications. The CBI's probe of the group's officials comes after the national auditor said irregularities in mobile licence and spectrum allocation cost the exchequer up to $40 billion in lost revenues. The CBI is looking into companies which may have benefited from suspected rigging of licence bidding rules under then telecom minister A. Raja. Raja was arrested with two former aides earlier this month in the scandal that has tarnished the reputation of the Congress government led by Premier Manmohan Singh. The police agency has not stated any of the Reliance ADA Group firms benefited from the alleged corruption. It has, however, named India's Swan Telecom -- now known as Etisalat DB Telecom -- and real estate company Unitech as allegedly having benefited. The auditor's report, meanwhile, has accused Reliance Communications, through its Reliance Telecom unit, of violating licensing rules by holding over 10 percent of Swan Telecom, which applied for a 2G licence in 2007. The report has also alleged that Swan Telecom, which got its licence in 2008, appeared to be acting as a "front company" for Reliance Telecom when it applied for the licence. The companies have denied wrongdoing. The CBI's questioning of Reliance officials comes as troubles mount for the group. On Friday, it said it had identified unnamed brokers whom it claimed spread "baseless" charges that India's top accounting body was looking into the group's finances. The allegations wiped $2.6 billion off the value of the group's six firms in a single trading day on Wednesday. The CBI questioning of Reliance officials comes after a Supreme Court judge earlier in the week told police to go after company executives and politicians more aggressively. "We have a large number of people who think themselves to be above the law. You must catch all of them," Supreme Court Justice G.S. Singhvi said. "Merely because a person is on the Forbes list (of billionaires) and millionaires does not matter. Remember there is no parallel to this case." Recommend Send IM Story Print Related Articles Rio CEO targets iron ore as demand booms AFP - 57 minutes ago MIDEAST STOCKS - Factors to watch - Feb 13 Reuters - 1 hour 16 minutes ago RPT-Emirates picks banks for bond issue - IFR Reuters - 1 hour 21 minutes ago S.Korea firms win $2.5 bln order from Saudi AFP - 1 hour 27 minutes ago TABLE-IVRCL Infra Oct-Dec net profit flat, lags f'cast Reuters - 1 hour 41 minutes ago News Search Top Stories Airlift rescues abandoned LA chihuahuas Greece slams 'unacceptable' EU-IMF asset sale call Weber says he had 'minority' view on key issues Iraq suicide bomber kills 27 Shiite pilgrims Erik Guay claims ski world downhill gold More Top Stories » ADVERTISEMENT Most Popular Most Viewed US golfer Woods finds old habits hard to shake Russia loses military satellite: reports US auto sales jump 17 percent in January Dow closes over 12,000 for first time since June 2008 Egypt's Mubarak to step down at September election More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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