2G scam: CBI, ED team to probe money trail

NEW DELHI, INDIA: A joint team of Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) officials is expected to leave for Britain and the Channel Islands Tuesday to probe the alleged money trail in 2G spectrum allocation kickbacks case, CBI officials said on Monday.

"The team will probe companies associated with Unitech and Loop Telecom involved in the case," said a CBI official.

The official also said that the team was also to visit British Virgin Islands but cancelled this part of the tour since it was too far away.

On Monday, the Supreme Court asked the CBI to reply by June 20 as to what had happened to the Rs. 214 crore allegedly paid as kickback to Kalaignar TV in connection with the 2G spectrum allocation.

The joint team will be probing whether Unitech routed money through companies registered in Cyprus, and the Isle of Man and Jersey - dependencies of Britain, situated in the English channel off France.

The team will also investigate Loop Telecom, promoted by I.P. Khaitan and Kiran Khaitan, as they allegedly received funds from numerous overseas locations.

The ED sent Letters Rogatory (a formal request) to around 10 countries last year to unravel the money trail.

An ED official said the letters were also sent to Cyprus, Singapore, Mauritius, the United Arab Emirates, Libya, Norway and Russia, besides Great Britain, Jersey and the Isle of Man.