Etisalat has issued proceedings in the Indian Courts against Mr Balwa and Mr Goenka, Etisalat's DB chairman and vice-chairman, and Majestic Infracon Pvt Ltd for fraud and misrepresentation.
Etisalat said in a statement it was induced into investing in the company that was then Swan, "without any disclosure of the matters that are now alleged by the CBI and Supreme Court to have occurred in connection with the obtaining of 2G licences by EDB."
Those events occurred a year before Etisalat’s investment, the telecom operator said.
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