The Enforcement Directorate, probing the 2G spectrum scam, has sought specific details about five companies allegedly floated by corporate lobbyist Niira Radia’s sister in British Virgin Islands.
According to sources, the Central probe agency has sent source queries to British Virgin Islands to get the details of five companies in connection with its probe under the Foreign Exchange Management Act (Fema) for possible quid pro quo in the 2G spectrum scam.
The British Virgin Islandsbased companies, whose details have been sought by the ED, include — M/s Collets Trading Ltd, M/s Himlen Trading, M/s Kingston International Trading Ltd, M/s Malaga Overseas Ltd and Netserver Deals SA.
According to sources, the ED has sought information about the promoters of these companies, records of change of share holders (if any), balance sheets, details of subsidiary companies, nature of business and their annual accounts in connection with its 2G probe.
Sources further said, “Initial probe by the ED has revealed that all five companies, which are under the scanner, are located in the same building (Morgan and Morgan building) and same locality — Pasea Estate — in the British Virgin Islands”. Probe has also established that Karuna Manon, sister of Radia, is reportedly associated with all five companies.
The ED’s probe has revealed that in violation of the Reserve Bank of India (RBI) guidelines, foreign money was invested in many telecom companies, after they were granted Unified Access Service (UAS) licences during former telecom minister A. Raja’s tenure, sources said.
The ED had late 2010 sent letters of request (LR) to 10 countries, including Russia, UAE, Isle of Man, Cyprus, Mauritius, Norway, Singapore and Libya.