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India Inc facing probes

  • Reliance Industries

    Sebi is investing insider-trading charges against RIL related to its merger with Reliance Petroleum Ltd. Sebi says RIL and its entitites short-sold RPL before the merger. RIL sold 4.1% stake in RPL — shares sold first in futures market, later in spot market, covering share sales in futures market. RIL earned revenue of Rs 4,023 cr and made profit of Rs 513 cr. Matter is pending.

  • ADAG group:

    Anil Ambani's top officials are facing trial in the 2008 2G spectrum allocation case. CBI says Ambani's entities used Swan Telecom, a corporate veil, to get spectrum. SC has cancelled licences issued by A Raja & has asked fast-track court to hear the matter on a day-to-day basis.

  • Tata Group:

    Serious Fraud Investigation Office is conducting a probe against Tata Realty for giving Rs 1,700 cr loans to 2G scam accused United to buy 2G spectrum. A report by SFIO has called the loans dubious. However, the report is not official yet. Unitech and its MD, Sanjay Chandra, are facing trial in 2G fast-track court.

  • Essar Group

    The Ruias of the Essar Group are facing trial in the 2G spectrum case. Ravi and Anshuman Ruia are facing charges in the 2G case. CBI says Ruias floated Loop Telecom even after having significant stake in Vodafone Essar Ltd. However, they deny owning any stake in Loop directly. The matter is pending in 2G trial court.

  • JSPL

    Naveen Jindal's company is facing charges of getting coal blocks allocated without any bidding. SC has asked CBI to investigate and submit a report. CAG's report on allocation of coal blocks has revealed that the govt extended benefit of Rs 21,226 cr to JSPL and Rs 33,060 to SESTL, a Tata Group Co, by giving away coal blocks without auction. CBI investigations are on.

  • Adani Group

    In Sept 2012, SC asked CBI to probe illegal extraction, transport and export of 50.7 lakh tonne of iron ore from Karnataka's Belekeri Port - operated by Adani - between Jan 2009 and May 2010 and its role in the Belekeri export scam. CBI probe is on.

  • JSW

    In Oct 2012, CBI named JSW Chairman Sajjan Jindal, CEO Vinod Nowal, former Karnataka chief minister B S Yeddyurappa and his family members as accused in the illegal mining case. This was after the SC asked CBI to investigate the involvement of JSW, other firms in giving donations, buying land at inflated prices, providing 'illegal gratification' to state officials. Matter is pending in Karnataka Court.

  • Bharti Airtel

    CBI, in Feb 2013, filed a case of cheating, criminal conspiracy against SingTel, Bharti Airtel, Tata Communications for causing loss of about Rs 48 crore to the Government exchequer since 2004. This was by providing International Long Distance services illegally. Besides, Bharti group's JV with Walmart (now dissolved) is also facing a probe for violations of FDI guidelines.

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