CBI, ED joint team to visit Mauritius, Cyprus

CBI, ED joint team to visit Mauritius, Cyprus

Another team of investigators will travel to Cyprus soon to find out transactions routed through that country in several telecom companies allegedly involved in the scam.

A real estate company, accused of being involved in the scam, had allegedly registered several subsidiaries in Cyprus, considered to be a tax haven.

The move is necessitated as the agency will have to file its final chargesheet by May 31, a top CBI official said.

The CBI officials are also focusing on two other telecom firms -- S Tel and Loop, which may figure in the next charge sheet to be filed by the agency. Reliance Telecom has already been named as an accused in the first charge sheet filed by it on April 2.

The agency hopes that it will get a detailed picture of transactions routed through these two countries, the official said.

In its first charge sheet, the CBI has named one of the executives of Reliance Telecom, Gautam Doshi, as an accused and alleged that he was involved in "structuring and funding" Swan Telecom and Tiger Traders (the associate company of Reliance ADAG, which has equity in Swan) and other companies.

The agency has alleged that decisions regarding transfer of funds to Tiger Traders/ Swan Telecom were taken by him.