New Delhi: Serious trouble may soon crop up for former Telecom Minister A Raja, along with some corporate czars and telecom companies Swan Telecom and Loop Telecom with CBI informing the Supreme Court about the presence of ample evidence to prosecute the honchos and the biggies on charges of cheating, forgery, and corruption in 2G spectrum scam.   

The investigating agency told the Apex Court that a chargesheet running into around 80,000 pages comprising the transcript of telephonic conversations of corporate lobbyist Niira Radia with top business honchos, politicians and others will be placed before a special court set up to exclusively hold trial in the scam on April 2.

CBI and ED informed the court that large-scale violation of Foreign Exchange Management Act (FEMA) and benami transactions were involved in bringing foreign money in Swan and Loop telecom which were acting as front companies by established telecom players to get 2G spectrum illegally during the tenure of former Telecom Minister A Raja.

The fresh status report, which was filed in a sealed cover before a bench comprising Justices G S Singhvi and A K Ganguly about the probe carried out by CBI and ED, said Swan Telecom and Loop Telecom were allegedly used as front companies by Reliance Group (ADAG) and Essar respectively. Essar already has stakes in Vodafone.

Senior advocate K K Venugopal, who read out the portion of report, said there was evidence of "forgery" in altering of first-come-first-serve policy by Raja to allow some companies to get 2G spectrum and Swan and Loop hid the details about their companies to get spectrum in illegal manner.

Swam Telecom's promoter Shahid Usman Balwa has been arrested by CBI and ADAG firm RCom's chairman Anil Ambani has also appeared before the agency in connection with the 2G spectrum scam.

The court, which had fixed March 31 deadline for filing the chargesheet, extended it to April 2.

CBI and ED, in its report, also informed the court that huge amount from overseas was invested in the erring telecom companies and their team would soon be going abroad, starting from Mauritius, to track the trail of money involved in 2G scam.

"Huge amount has come from foreign destinations without the approval of RBI," Venugopal said adding the diplomatic channel has been activated to track the trail of money and Letters Rogatory has been sent to Malaysia, Dubai and USA to collect evidence.

CBI also placed the transcript of entire taped conversation of Radia before the bench which directed the Income Tax department to file status report on its probe against the corporate lobbyist within four weeks.

While reading out the report, Venugopal said there was a conspiracy in preponing the cut-off date for the spectrum allocation and the names of the persons involved in the scam cannot be disclosed in an open court as each one is an important person.

The CBI also told the court that it has investigated the transfer of Rs 206 crore from a firm of Balwa to Kalaignar TV which is owned by DMK's first family in connection with 2G spectrum scam.

The bench, after going through the report, expressed satisfaction on progress made in the probe.

"CBI has so far done more than satisfactory job," the bench said while asking the agency to inform it if there is "slightest" interference in the probe from any quarter.

(Agencies)