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This is an archive article published on February 27, 2005

PMO wants Reliance shares to Mahajan kin firms probed

The Prime Minister’s Office (PMO) last week sent ‘‘instructions’’ to the Ministry of Finance (MoF), asking it to ex...

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The Prime Minister’s Office (PMO) last week sent ‘‘instructions’’ to the Ministry of Finance (MoF), asking it to examine all aspects of the transfer of Reliance Infocomm shares to companies linked to former telecom minister Pramod Mahajan’s family members.

The PMO’s instructions to the MoF in the Reliance Infocomm issue was apparently tagged on to complaints Prime Minister Manmohan Singh received. PMO officials say they were awaiting feedback from the Finance Ministry on the ‘‘instructions.’’ They say the intervention came at the instance of the Prime Minister himself who has been anxious about getting to the bottom of the imbroglio.

Finance Ministry officials confirmed to The Sunday Express that they have received PMO’s reference on the Reliance Infocomm issue. They clarified that the instructions had not yet been routed to any other agency. ‘‘The decision to whom the complaint should be referred to will be taken at the highest level in the Ministry. We are awaiting directions which may be given after the Budget,’’ revealed a senior official.

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With the PMO making the first move, the case could be handed over to an investigating agency to examine if there’s ground for a criminal case.

The controversy centres on Reliance Infocomm gifting, and then recently taking back, a generous 1 crore shares at Re 1 apiece to three companies controlled by Mumbai-based businessman Ashish Deora, who has links with family members of Pramod Mahajan.

All three parties — Reliance Infocomm, Ashish Deora and Pramod Mahajan — have denied that this share allotment had anything to do with the former minister.

The CBI is already in the midst of its ‘‘secret verification’’ on the issue of Reliance and other top telecom companies illegally rerouting international calls. CBI sources say the agency is examining the files which they have collected from the Telecom Ministry.

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Ritu Sarin is Executive Editor (News and Investigations) at The Indian Express group. Her areas of specialisation include internal security, money laundering and corruption. Sarin is one of India’s most renowned reporters and has a career in journalism of over four decades. She is a member of the International Consortium of Investigative Journalists (ICIJ) since 1999 and since early 2023, a member of its Board of Directors. She has also been a founder member of the ICIJ Network Committee (INC). She has, to begin with, alone, and later led teams which have worked on ICIJ’s Offshore Leaks, Swiss Leaks, the Pulitzer Prize winning Panama Papers, Paradise Papers, Implant Files, Fincen Files, Pandora Papers, the Uber Files and Deforestation Inc. She has conducted investigative journalism workshops and addressed investigative journalism conferences with a specialisation on collaborative journalism in several countries. ... Read More

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