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CBI probe in RCom’s investment in Delphi reaches deadend

Central Bureau of Investigation’s probe into investment by Reliance Telecom, a unit of Anil Ambani-led Reliance Communications, in Mauritius-based Delphi, which was documented as part of the 2G spectrum scam, has reached a dead-end. The reply to the agency’s letter rogatory sent in 2011 to Switzerland has not provided any incriminating evidence against Ambani or Reliance Telecom, a senior CBI official said. The agency recently got the reply translated into English to ascertain if there was any proof of criminality. CBI has not decided if it will pursue the case or close it. Delphi is a subsidiary of Switzerland-based Mavi Investment. CBI’s line of investigation was to find if any of the bribe money for 2G spectrum was routed through Delphi. CBI had earlier alleged that Reliance Telecom  had sold its 9.1 per cent stake to Delphi for Rs 10 crore – a rate much lower than the prevalent market price. The reply from Switzerland indicated that there was no Indian investment in Mavi. After this, CBI has no evidence to go against Ambani with a bribery allegation. Ambani is also one of the prosecution witnesses in the case.
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