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Reliance exec backtracks on Swan

The first prosecution witness to be examined in the 2G spectrum case told the special CBI court on Friday that he does not recall who asked him to sign a document despite telling the CBI earlier that it was accused Hari Nair who asked him to do so.
Vice President, Reliance Capital, Anand Subramaniam said during examination by Senior Public Prosecutor A K Singh that he does not recall who asked him to submit a letter to the HDFC Bank. The letter, which was used to open an account for Swan Telecom Pvt. Ltd., stated that Swan was a group company of Reliance Communications Ltd.
In a statement of Subramaniam’s, recorded by the CBI under section 161 of the CrPC on March 9, 2011, he had said that accused number 11 Hari Nair had asked him to submit it: “....I further state that we (I and Varadharajan Srinivasan) had given this letter to HDFC bank Ltd. Fort Branch Mumbai on 01.03.2007 on telephonic instructions of Hari Nair, the Company Secretary of M/s Swan Telecom Pvt. Ltd.”

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