Reliance link with 2G scam may cause trouble for Stock

Reliance link with 2G scam may cause trouble for Stock

CBI has been investigating with several telecom companies and their officials over the past several weeks, as a part of their ongoing investigation process.

CBI has also examined few officials of Anil Ambani’s Reliance ADA Group and admitting the examination, the officials said that they are co-operating with the authorities in the 2G spectrum investigation.

CBI is mostly concerned with the various matters relating to the years 2001 to 2008.

As per orders issued by Supreme Court to search the grant of licenses starting from 2001 where irregularities have been found, CBI is inspecting many telecommunication companies with this regard.  

Further officials of the group said that they have identified the stockbrokers who were responsible for spreading rumors that had decrepit the group shares on Wednesday. All these stockbrokers were found sending mass e-mails, text messages, voice calls with baseless sensational charges against ADA Group.

The group is unable to identify the names of the brokers but is asking SEBI for a full fledge investigation by taking proper disciplinary actions against the guilty brokers.