New Delhi: A 2G case prosecution witness on Monday told a Delhi court that Sonata Investment Limited, allegedly involved in transfer of funds between Swan Telecom and Reliance ADA Group, was a part of the latter but Anil Ambani was not on its board of directors.
"I am aware of Sonata Investment Ltd. This company is also part of Reliance ADA Group. Sonata Investment Ltd is part of Reliance Energy group. Sonata Investment Ltd is a non-banking finance company. It is engaged in the business of investments and corporate lending," Reliance Power Ltd's Senior Vice President (Project and Finance) and its Chief Financial Officer Deepak Maheshwari told Special CBI Judge OP Saini.
During his cross-examination, he, however, said Reliance ADA Group Chairman Anil Ambani was "not on the board of directors of Sonata Investment Ltd."
Maheshwari said he had done some documentation work in 2007 for a company Anant Raj Group for some facilities provided to it by Sonata Investment Ltd.
He said there was a loan transaction between Oriental Buildtech Ltd, part of Anant Raj Group, and Sonata Investment Ltd to the tune of Rs 100 crore.
"The documentation work done by me for Anant Raj Group was regarding loan transaction. The loan transaction between Oriental Buildtech and Sonata Investment was a transaction of inter-corporate deposit for a project for Rs 100 crore.
"Apart from this transaction, I did documentation work for other transactions also between Anant Raj Group and Sonata Investment Ltd," he said.
Maheshwari, whose recording of statement concluded on Monday, said Sonata Investment Ltd is a genuine non-banking finance company and extends loan for genuine reasons.
He said that on March 1, 2007, an e-mail was sent to him by Yogesh Sharma of Anant Raj Group in which Sharma had sent the account details of Oriental Buildtech (P) Ltd to him.
He said Hari Nair, Reliance ADA Group Senior Vice President and an accused in the 2G spectrum case, had sent an e-mail to him, Sharma and Bharat Amberkar containing details of bank account of Giraffe Consultancy (P) Ltd, an alleged associate of Reliance ADA Group.
During cross-examination, Maheshwari deposed that Sharma had approached Sonata Investment Ltd for loan/investment in a project but said he was not "directly aware" of it. He said Sonata Investment Ltd has invested substantial amount in Anant Raj Group since 2005.
"It is correct that substantial sum was invested by Sonata Investment Ltd in the Anant Raj Group from time to time since 2005, though I am not aware about the exact amount.
"This amount may be between Rs 100 crore to 300 crore or Rs 500 crore, but I cannot give the exact amount," he said, adding "I know only about transfer of money from Sonata Investment Ltd to Oriental Buildtech Ltd."
The court, meanwhile, allowed a plea of Bollywood filmmaker Karim Morani, another accused in the case, to be exempted from personal appearance for today only on the ground that he had to meet a doctor in Mumbai.
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