More trouble for Unitech’s Sanjay Chandra?

NEW DELHI, INDIA: India’s federal investigating agency CBI has told special judge OP Saini that it has established a money trail related to Unitech’s Sanjay Chandra. The agency claimed that Chandra traced Rs 250 crore in the Isle of Man.

The agency told the special court that this money would have been used as quid pro quo for public servants in the 2G spectrum swindle. CBI alleges that money was offloaded during the application period of 2G allocation.

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The agency will also be sending a special team to Isle of Man for further probe, and is preparing LRs (Letters of Rogatory). The initial investigations, CBI said, revealed that there was no resolution taken from the board of directors on such investment.

Saini has however allowed prosecution to investigate the matter further.