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Tatas under CBI lens over Rs 1700 crore Unitech land deal, 2G spectrum

PTI 18 Aug 2014, 11:08:51 AM IST
New Delhi: The Central Bureau of Investigation (CBI) has registered a preliminary enquiry to probe into an alleged Rs17 billion land deal between Tata Realty and Unitech in 2007 to purportedly fund the latter's telecom project.

Sources in the agency said that the Supreme Court has been informed about the probe that was being conducted to ascertain the actual purpose of the land deal. The CBI has also said that it would be investigating the allocation of dual technology spectrum to Tata Teleservices in February 2008. The sources said these aspects were not probed during the earlier investigation into the 2G scam. Now these aspects will be looked into thoroughly after which a report will be submitted to the Supreme Court.

Tata Realty spokesperson said the company was not aware of any preliminary inquiry. “We have explained our position on this issue in the past. We reiterate that we have comprehensively addressed questions from all government agencies and fully cooperated with all authorities in their investigations. We stress that we are committed to the highest standards of ethics and business conduct,” the spokesperson said. Unitech refused to comment on the issue.

The agency 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.