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2G: ED files chargesheet against telecom firms

News18test sharma |

Updated: April 9, 2011, 4:39 PM IST
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2G: ED files chargesheet against telecom firms
The ED has named Swan Telecom, Loop Mobile and S Tel in the chargesheet.

New Delhi: The Enforcement Directorate on Saturday filed a chargesheet against telecom firms for violating the Foreign Exchange Management Act (FEMA) to the tune of Rs 4,300 crore in the 2G spectrum scam case.

In the chargesheet filed in a Delhi court the Enforcement Directorate has named Swan Telecom, Loop Mobile and S Tel.

The Enforcement Directorate suspects breach of FEMA by Virgin Mobile, a Tata joint venture and is analysing pricing issue of shares between Unitech and Telenor.

The Directorate says it is also looking into cash guarantee issued to Sistema.

According to the ED investigation under FEMA has revealed 'large scale' contraventions by telecom companies and their associates in the 2G spectrum allocation case.

First Published: April 9, 2011, 4:39 PM IST
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