LR response from Switzerland in 2G scam gives little evidence

In a setback to CBI probe into 2G scam, the replies received from Switzerland to its judicial request seeking background of Mavi Investment Fund and financial transactions are of little evidential value.
CBI sources said they have recently received responses from Switzerland which have been translated but these do not give much information which could be of any help to the agency and used in the court.
The sources said responses from Switzerland did not give details of financial transactions between Mavi and Delphi, its owners and other such details and no specific replies were given to questions sent by CBI.

It is alleged that Mauritius-based Delphi Investment had used USD four million received from Switzerland-based Mavi Investment Fund to purchase shares of Anil Ambani's Reliance in Swan Telecom at an undervalued price.
The agency has sent Letters Rogatory on September 14, 2011 which was translated into French according to the requirement of Mutual Legal Assistance treaty with Switzerland.
"Role of Anil Ambani and other employees of Reliance in allocation of GSM spectrum to Reliance under dual technology vis-a-vis sale of 9.99 per cent share in Swan Telecom to Delhi investment is being probed during further investigation," the CBI had said in its response to a petition by Prashant Bhushan and Subramanian Swamy.

Reliance Telecom spokesperson could not be contacted for comments on the development.