ED to attach properties of two telecom companies involved in 2G scam

ED to attach properties of two telecom companies involved in 2G scam

The Enforcement Directorate will soon attach properties of two telecom companies involved in the 2G spectrum scam. This was disclosed by the ED in a report submitted before the Supreme Court on Wednesday.

Appearing for the ED, senior advocate K K Venugopal told the apex court that property worth 2,000 crore rupees each has to be attached. He, however, did not mention the names of the companies but assured that attachment proceedings will be initiated soon and will be completed within two months.

Mr Venugopal hinted that attachment orders will be issued shortly under the Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA), against the two companies against whom the ED has so far registered the complaints.

Meanwhile, CBI also filed fresh status report about its probe and sought more time to complete the investigation relating to the allocation of spectrum during 2001-07. The court appreciated the probe done by the CBI and ED and said they have done a commendable job.