Reliance ADA Chairman Anil Ambani says he lost his prestige in 2G saga

Reliance ADA Chairman Anil Ambani says he lost his prestige in 2G sagaReliance ADA Group Chairman Anil Ambani told the Central Bureau of Investigation (CBI) that he hadn't gained anything from the 2G saga; rather he had lost his prestige.

Mr. Ambani and his wife Tina Ambani have been directed by a special court to testify as prosecution witnesses in the 2G telecom case, in which Reliance and many other telecommunications firms conspired with former Telecom Minister A Raja to get spectrum.

The CBI says that Mr. Ambani's company created another firm called Swan Telecom Pvt Ltd, with a sole aim to get licenses and spectrum beyond the permissible quota. But in a statement given to the investigating agency in February 2011, Mr. Ambani claimed that Swan Telecom wasn't a Reliance ADA Group company. He also stressed that the entire 2G saga snatched his prestige.

In the statement, he said, "I would like to state that in this entire process, I have not gained anything and, on the contrary, I have lost my prestige/image. I am a net loser since 2008."

He added that the market capital of Reliance Communications, which was his father Dhirubhai Ambani's vision to make telecom for the masses, suffered drastic decline.

Before the investigating agency, Mr. Ambani also claimed that salt-software conglomerate Tata Group had "funded" Unitech to help it gain 2G spectrum licences during A Raja's tenure as telecom minister.

Meanwhile, Mr. Ambani's lawyers have filed a special leave petition with the Supreme Court, challenging a special court order directing Mr. Ambani and his wife to testify as witnesses in the 2G telecom case.