Shares of Reliance ADA Group companies were under severe pressure in early morning trade after reports that the conglomerate may come under fresh scrutiny over its role in the 2G scam.....
Shares of Reliance ADA Group companies were under severe pressure in early morning trade after reports that the conglomerate may come under fresh scrutiny over its role in the 2G scam.
The Central Bureau of Investigation (CBI), yesterday, told the Supreme Court that the role of Anil Ambani and other
Reliance ADAG employees in the sale of Swan Telecom to Delphi is being investigated.
According to the CBI, Swan shares sold to Delphi were undervalued. The CBI also told the court that three ADAG employees,
who have been arrested in the case, may turn approvers and investigators may get to know the real beneficiaries.
However, according to an ADAG official, CBI counsel has clearly said that the group is not a part of 2G conspiracy. Also,
the official refuted claims of an accused executive expressing intention to become approver.
"There is no change in stand by any ADAG executives," the spokesperson said.
Three top officials of Reliance ADA Group – Gautam Doshi (Managing Director, Reliance ADA Group), Surendra Pipara (Senior
Vice President of ADAG and Reliance Telecom) and Hari Nair (Senior Vice President ADAG) - have been accused of conspiracy
and abetment to cheating in the 2G scam. The trio is lodged in New Delhi's Tihar Jail.
Here's how the shares are trading:
Reliance Infrastructure touched a 52-week low of Rs 374. It touched an intraday high of Rs 394.90 and an intraday low of Rs
374. At 11:47 hrs the share was quoting at Rs 376.
Reliance Capital touched a 52-week low of Rs 323.55. It touched an intraday high of Rs 348.00 and an intraday low of Rs
323.55. At 11:47 hrs the share was quoting at Rs 325.95.
Reliance Communications touched a 52-week low of Rs 71.10. It touched an intraday high of Rs 75.50 and an intraday low of
Rs 71.10. At 11:47 hrs the share was quoting at Rs 71.50.
....
more infoThe Central Bureau of Investigation (CBI), yesterday, told the Supreme Court that the role of Anil Ambani and other
Reliance ADAG employees in the sale of Swan Telecom to Delphi is being investigated.
According to the CBI, Swan shares sold to Delphi were undervalued. The CBI also told the court that three ADAG employees,
who have been arrested in the case, may turn approvers and investigators may get to know the real beneficiaries.
However, according to an ADAG official, CBI counsel has clearly said that the group is not a part of 2G conspiracy. Also,
the official refuted claims of an accused executive expressing intention to become approver.
"There is no change in stand by any ADAG executives," the spokesperson said.
Three top officials of Reliance ADA Group – Gautam Doshi (Managing Director, Reliance ADA Group), Surendra Pipara (Senior
Vice President of ADAG and Reliance Telecom) and Hari Nair (Senior Vice President ADAG) - have been accused of conspiracy
and abetment to cheating in the 2G scam. The trio is lodged in New Delhi's Tihar Jail.
Here's how the shares are trading:
Reliance Infrastructure touched a 52-week low of Rs 374. It touched an intraday high of Rs 394.90 and an intraday low of Rs
374. At 11:47 hrs the share was quoting at Rs 376.
Reliance Capital touched a 52-week low of Rs 323.55. It touched an intraday high of Rs 348.00 and an intraday low of Rs
323.55. At 11:47 hrs the share was quoting at Rs 325.95.
Reliance Communications touched a 52-week low of Rs 71.10. It touched an intraday high of Rs 75.50 and an intraday low of
Rs 71.10. At 11:47 hrs the share was quoting at Rs 71.50.
....