The ministry of corporate affairs (MCA) has given a clean chit to Swan Telecom (now Etisalat DB) and said Anil Ambani-led Reliance Communication never had more than 9.90% stake in the company. MCA' response comes in the wake of telecom ministry's request to examine the share-holding pattern of Swan Telecom to ensure the eligibility of the company to get the licence and 2G spectrum in 2008.
At the height of the 2G scam, even when investigations were on in full swing, the Ministry of Corporate Affairs effectively gave a clean chit to the questionable Swan-Reliance Telecom deal. The letter written on the December 24, 2010 also states the approval of then minister in-charge Salman Khurshid. This clearance coming even after the CAG report into the 2G scam concluded that Swan Telecom was a front for Reliance Telecom.
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