Maxis Communications denies involvement in 2G scam

MCB,which has a 74 per cent stake in India’s Aircel and is a major shareholder in Maxis,has totally denied any wrongdoing,saying it was aware of the CBI investigations for quite some time and had extended its full co-operation.

“Whilst disappointed that the FIR has been filed,MCB will continue to co-operate with the CBI in its investigation in full confidence that the allegations will prove to be unfounded and without basis,” MCB said.

MCB said it had yet to be provided with the first information report (FIR),but understood that it was expressly named in the report along with nominated persons and that the FIR related to allegations of coercion and corruption surrounding the Aircel purchase.

The statement added that the acquisition of Aircel was “a commercial,arms length transaction between a willing seller and willing buyer”.

The takeover of Aircel by MCB dates back to December 2005 when Aircel was owned by entrepreneur C Sivasankaran,who accused Dayanidhi Maran of pressuring him to sign a deal with Maxis.

“Indeed,MCB paid the asking price demanded by the seller,Siva Ventures Limited (owned by C Sivasankaran). Furthermore,MCB had successfully defended international arbitration proceedings brought against it by the former owner of Aircel,Siva Ventures,whose claims against MCB were dismissed in its entirety,” the statement claimed.

“MCB will continue in its commitment to the Indian telecommunications market in which it has invested more than eight billion dollars (RM 24 billion) since it acquired Aircel to establish and develop a pan-Indian mobile telephony business,along the way building a subscriber base of more than 50 million customers,” it added.

The 2G scam has rocked Prime Minister Manmohan Singh’s government,leading former telecom minister A Raja and DMK Rajya Sabha member Kanimozhi to imprisonment. The case against them over their involvement continues.