Tata Realty-Unitech land deal comes under the radar of CBI
Apparently there was an alleged land deal between Tata Realty and Unitech in 2007 which was supposed to fund the latter’s telecom project. The Supreme Court has been informed about the probe that was being conducted to ascertain the actual purpose of the land deal.
Hence the CBI has registered a preliminary enquiry to probe into this land deal. The CBI has also said that it would be investigating the allocation of dual technology spectrum to the Tata Teleservices in February 2008. They have got some news from some reliable sources that there may be some irregularities in these deals.
These aspects were not probed during the earlier investigation into the 2G scam. A report will be submitted to the Supreme Court after looking into these aspects thoroughly. However Tata does not want the media to know about this probe and maintained that they are not aware of any preliminary inquiry.
Tata Realty spokesperson also mentioned that they had explained they position on this issue in the past. They maintained that they have comprehensively addressed questions from all Government agencies and fully cooperated with all authorities in their investigations.
Tata is always known for being an ethical company and they stated that they have followed all the guidelines and rules and regulations. The CBI will probe whether the advance given by Tata Realty was used by Unitech for real estate projects or for a telecom licence pertaining to the 2G telecom spectrum allocation scam.
Source- Financial Chronicle
