Tuesday 5 April 2011

Indian tycoon Ambani questioned in telecom scam - Maktoob News

Indian billionaire Anil Ambani was called before a powerful parliamentary committee on Tuesday for what promised to be an uncomfortable hearing into a multi-billion-dollar telecom fraud.

Ambani, who heads Reliance ADA, was set to give "oral evidence" before the 13-member Public Accounts Committee (PAC) over the allegedly fraudulent distribution of licences in 2008 to top telecom firms at throwaway prices.

His company, Reliance Telecom, a unit of Reliance Communications, has been charged by police in the case and Ambani was expected to be questioned about this. Three Reliance executives are also to stand trial.

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