2G case: 'Reliance Infra officials were directors of Swan, Tiger'

A prosecution witness in 2G spectrum case on Tuesday told a Delhi court that employees of Reliance Infrastructure Group were directors of Swan Capital (P) Ltd and Tiger Traders Pvt Ltd, the alleged associates of Reliance ADA Group.

Ashish Tambawala, senior Executive Vice President (Accounts and Finance) Reliance Infrastructure Ltd, told Special CBI Judge OP Saini that both the companies were incorporated in 2006.

"As per certificate of incorporation of this (company Swan Capital (P) Ltd, this company was registered/incorporated on July 13, 2006. As per the memorandum of association, the shareholders of the company were Himanshu Aggarwal with one share, Power Surfer Interactive (India) (P) Limited with 4999 shares and Reliance Energy Management Services (P) Ltd with 5000 shares.

".....Himanshu Aggarwal was an employee of one of the companies of Reliance Infrastructure Group. Dinesh Modi and Paresh Rathod were Directors of Swan Capital (P) Ltd. They were employees of one of the companies belonging to Reliance Infrastructure Group," Tambawala said.

He said Power Surfer Interactive (India) (P) Limited and Reliance Energy Management Services (P) Limited are part of Reliance Infrastructure Group.

During his cross examination, he said Ashish Karyekar, Dinesh Modi, Paresh Rathod and Sujit Rao were shareholders, with 2500 shares, each of Tiger Traders (P) Ltd, which was incorporated on March 20, 2006.

"Ashish Karyekar, Dinesh Modi, Paresh Rathod and Sujit Rao were employees of one of the companies of Reliance Infrastructure Group. Ashish Karyekar and Paresh Rathod were Directors of Tiger Traders (P) Ltd," he said.