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Updated: November 12, 2011 02:08 IST

At 2G trial, witness identifies Reliance cheques for Swan

Jiby Kattakayam
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Anand Subramaniam, Vice President, Reliance Capital, outside the Patiala House Court in New Delhi. Mr. Subramaniam was the first to depose in the 2G case trial which began on Friday. Photo:Sushil Kumar Verma
The Hindu
Anand Subramaniam, Vice President, Reliance Capital, outside the Patiala House Court in New Delhi. Mr. Subramaniam was the first to depose in the 2G case trial which began on Friday. Photo:Sushil Kumar Verma

Anand Subramaniam of Reliance Capital says cheques for Rs.900 crore were signed by his colleagues at Reliance ADA Group

The trial in the 2G spectrum allocation case that involves high-profile politicians, business tycoons and corporate honchos began on Friday with the deposition of two witnesses in a cramped courtroom.

Vice-president of Reliance Capital Anand Subramaniam was the first to depose and his examination-in-chief, in which the prosecution puts questions to him based on the statement under Section 161 of the Criminal Procedure Code that he gave before a CBI investigating officer, proceeded with a fair bit of acrimony, with defence lawyers repeatedly objecting to Senior Public Prosecutor A.K. Singh's alleged attempts to “lead” the witness to giving certain answers favouring the prosecution.

Mr. Subramaniam identified four HDFC Bank cheques — two dated May 22, one dated May 25 and another dated June 25, 2007 — for a total sum of Rs.900 crore issued by Reliance Communications in favour of Swan Telecom. They were signed by his colleagues at the Reliance ADA Group. “I identify their signatures as I am familiar with their handwriting and signatures as we were working together. These cheques were issued from the account of Reliance Communications in favour of Swan Telecom,” he said.

Asked to which company account the number 0600310001874 belonged to, he said he was “unable to tell as to which company this account number belonged to, but the last four digits ‘1874' were similar to an account of the Reliance Communications Limited.” He did not know the purpose for which the cheques were issued.

(In its charge sheet, the CBI said Gautam Doshi, Surendra Pipara and Hari Nair “structured/created net worth of a company, Swan Telecom, out of funds arranged from Reliance Telecom or its associates for applying to the Department of Telecom for UAS licences in 13 circles where Reliance Telecom had no GSM spectrum” in a manner that Swan Telecom's association with Reliance “may not be detected,” so that the DoT did not reject its application.)

To a question from Vijay Aggarwal, counsel for R. K. Chandolia, why he signed a letter dated March 1, 2007, addressed to the HDFC Bank, Fort Branch in Mumbai, on behalf of the Reliance Communications, despite being on the payroll of Reliance Capital, Mr. Subramaniam said, “I have not committed any irregularity or crime. It is a normal practice in the private sector to be on the payroll of one company and to be authorised signatory for many other companies. This is done for normal business convenience.” He added that he did not know “who were the shareholders or what was the nature of these companies or who were the directors thereof.” During the examination-in-chief, he said he did not remember under whose instructions he signed this letter.

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At the end, we all know, nothing happened and no loss in 2G allocation and merely Raja followed the old procedures which followed by BJP government and if he opt for auction India could have get big money for that. Hey folks forget all these drama.

Posted on: Nov 12, 2011 at 15:22 IST

This bigwig anand subramanian has said to the cbi earlier this year that he had issued a letter to facilitate the opening of a bank account for swan telecom on the instructions of hari nair, senior vice president reliance adag, which was given to him through phone. But it seems odd that the cbi got his unsigned statement knowing well that it will be insignificant in the court of law. Now he says that he doesn't know who instructed him to issue the letter for the opening of the account, he is able to recognize Pipara, Doshi and Nair but denies working with them. If this is an indicator of the way the trail is going to proceed then the complicities of powerful people who has looted this poor country of her valuable resources will go scott free.

from:  Vyjayanthi
Posted on: Nov 12, 2011 at 11:05 IST

"During the examination-in-chief, he [Vice-president of Reliance Capital Anand Subramaniam] said he did not remember under whose instructions he signed this letter." This is probably a lie. Being in such a senior position, how many persons' instructions can he be taking? Maybe one or two persons at the most. So to say he does not remember may not be wholly true.

from:  Venugopal Kaikulath
Posted on: Nov 12, 2011 at 09:12 IST

How could these officers have done what they did without instructions from their bosses? Why can the law not touch their higher-ups? Everything about the 2G investigation points to a cover-up that attempts to shield the top guns involved, both political and corporate.

from:  Dr Suresh Bindhumadhav
Posted on: Nov 12, 2011 at 08:44 IST

Mr. Subramanian could have refused to make a statement as the CBI did not declare to the Court that investigation were complete. At best he would have faced contempt of court which would have been overturned by a superior court.Mr. Subramaniam was right. From my experience too I have signed checks of other companies while being on the payroll of other companies in the same Group. Nothing wrong with that since the Board of such companies gives authority and the Bank has not challenged it. What perplexes me is that Mr Subramaniam does not remember on whose 'instructions' he signed the checks. This is poor risk management and he is lying. All instructions of such nature are secretly recorded.If the CBI means its business, then this is the line of questioning. He will crack. We all can guess from where the instructions came from.

from:  Ryk
Posted on: Nov 12, 2011 at 08:37 IST
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