Monday, March 28, 2011

Indian tycoons to face telecom probe panel


Ratan Tata Ratan Tata has asked for a wider probe into the allocation of phone licences in India.

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Indian tycoons Ratan Tata and Anil Ambani will appear before a parliamentary committee investigating a multi-billion dollar telecom scandal, their companies have confirmed.
The Public Accounts Committee (PAC) is probing alleged corruption in the sale of 2G phone licences.
An official audit claimed the government may have lost as much as $39bn (£24bn) in revenues.
The committee will question the pair on 4 and 5 April respectively.
Telecom services is one of India's fastest growing and lucrative industries.
Some of India's biggest companies have been accused of flouting rules in order to obtain licences in their attempts to enter the sector.
A spokesperson for Tata Sons, the holding company for Tata Teleservices, India's fifth-largest phone company, said the group will co-operate with the probe.
"Mr R N Tata has expressed his willingness to appear before that PAC of April 4th in connection with the recent developments in the telecom sector, including the allocation of 2G and 3G spectrum," he said.
Anil Ambani is the chairman of Reliance Communications, India's second-largest telecom carrier. He has already been questioned as a part of the probe.
Mr Ambani appeared before the committee last month, a visit that was described as voluntary by the company.
Reliance ADA group, the parent group of Reliance Communications, issued a statement confirming that Mr Ambani will be appearing before the committee again.
"Anil Ambani welcomes the opportunity to appear before (the) PAC", it said.
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