Unitech plunges as CBI begins fresh probe in 2G case

MUMBAI: Realty company Unitech was witnessing selling pressure after the Central Bureau of Investigation ( CBI) began a fresh probe in 2G spectrum allocation case.

The CBI on Tuesday informed the Supreme Court that it was investigating the allegation that Unitech got spectrum in 2008 during A Raja's tenure as telecom minister by hiding the fact that it was a front for the Tata group.

'Centre for Public Interest Litigation' (CPIL) has alleged that the Serious Fraud Investigation Office "(SFIO) investigation also confirms what was for long been suspected, that is Unitech was fronting for Tatas and had obtained 2G spectrum allocated by DoT in 2008 by cheating and fraud".

A CBI's official spokesperson told TOI that no fresh PE was registered. “The probe is an extension of the 2G spectrum investigations."

The CBI told the apex court that it had filed chargesheets against various persons and companies on completion of investigations into alleged irregular allotment of 2G spectrum.

At 1:45 p.m.; Unitech was at Rs 22.60, down 13.90 per cent, on the BSE. It touched a high of Rs 25.85 and a low of Rs 21.95 in trade today.