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Investigations against nine companies involved in the 2G scam will be over by next year, the Central Board of Direct Taxes (CBDT) told the Joint Parliamentary Committee (JPC) on 18 July 2012.
The JPC Chairman, Mr. P.C. Chacko, briefing the media said that the panel expressed dissatisfaction over the “slow progress” in the investigation.
The CBDT officials told the JPC that they were probing the source of funds of the licensee companies along with the tax implication of dilution of equities and purchases and the genuineness of purchases. The CBDT, which made a presentation to the JPC on 18 July 2012, said probe against Reliance Telecom and Tata Realty and Infrastructure Ltd was over.
Apart from the Reliance Telecom and Tata Realty, investigations against Unitech, Etisalat, Videocon, Telenor, Loop Telekom, Cine Yug and Kalaignar Channel are underway, the officials said.
The CBDT is yet to complete its investigation on Kalaignar TV. CBDT told the JPC that Kalaignar TV received Rs 52 crore to repay loans worth Rs 200 crore from 18 companies registered in Kolkata, whose details could not be found. According to IT official these companies do not exist.
This 52 Crore amount is part of Rs 200 crore loan which Kalaignar TV paid back to Shahid Balwa’s companies in 2010. This amount has been shown as bribe in CBI charge sheet in 2G spectrum scam for favour granted by the telecom minister A Raja to Balwa.
The CBDT chairman has assured the panel that they would finish the job by March 2013
The JPC will summon the CBI Director on July 24. The Chief Vigilance Commissioner will also be called before the panel soon.
The JPC Chairman, Mr. P.C. Chacko, briefing the media said that the panel expressed dissatisfaction over the “slow progress” in the investigation.
The CBDT officials told the JPC that they were probing the source of funds of the licensee companies along with the tax implication of dilution of equities and purchases and the genuineness of purchases. The CBDT, which made a presentation to the JPC on 18 July 2012, said probe against Reliance Telecom and Tata Realty and Infrastructure Ltd was over.
Apart from the Reliance Telecom and Tata Realty, investigations against Unitech, Etisalat, Videocon, Telenor, Loop Telekom, Cine Yug and Kalaignar Channel are underway, the officials said.
The CBDT is yet to complete its investigation on Kalaignar TV. CBDT told the JPC that Kalaignar TV received Rs 52 crore to repay loans worth Rs 200 crore from 18 companies registered in Kolkata, whose details could not be found. According to IT official these companies do not exist.
This 52 Crore amount is part of Rs 200 crore loan which Kalaignar TV paid back to Shahid Balwa’s companies in 2010. This amount has been shown as bribe in CBI charge sheet in 2G spectrum scam for favour granted by the telecom minister A Raja to Balwa.
The CBDT chairman has assured the panel that they would finish the job by March 2013
The JPC will summon the CBI Director on July 24. The Chief Vigilance Commissioner will also be called before the panel soon.
