Former Telecom Min A Raja, along with some corporate czars and telecom companies Swan Telecom and Loop Telecom will be prosecuted on charges of cheating, forgery, corruption in 2G spectrum scam as CBI told Supreme Court that there is ample evidence against them.

The investigating agency on Tuesday told the apex court that a chargesheet running into around 80,000 pages comprising the transcript of telephonic conversations of corporate lobbyist Niira Radia with top business honchos, politicians and others will be placed before a special court set up to exclusively hold trial in the scam on 2nd April.

CBI and ED informed the court that large-scale violation of Foreign Exchange Management Act (FEMA) and benami transactions were involved in bringing foreign money in Swan and Loop telecom which were acting as front companies by established telecom players to get 2G spectrum illegally during the tenure of former Telecom Minister A Raja.

The fresh status report, which was filed in a sealed cover before a bench comprising justices G S Singhvi and A K Ganguly about the probe carried out by CBI and ED, said Swan Telecom and Loop Telecom were allegedly used as front companies by Reliance Group (ADAG) and Essar respectively. Essar already has stakes in Vodafone.

Senior advocate K K Venugopal, who read out the portion of report, said there was evidence of “forgery” in altering of first-come-first-serve policy by Raja to allow some companies to get 2G spectrum and Swan and Loop hid the details about their companies to get spectrum in illegal manner.

Swam Telecom’s promoter Shahid Usman Balwa has been arrested by CBI and ADAG firm RCom’s chairman Anil Ambani has also appeared before the agency in connection with the 2G spectrum scam.

Essar Group Chairman Prashant Ruia was also summoned by CBI following the allegation that Loop Telecom had acted as the front company his group.

CBI also said the supplementary chargesheet will be filed by 25th April and investigation in the scam will be completed by 31st May.

Venugopal, appearing for CBI, placed a transcript of tapped telephonic conversation of Radia with top corporate honchos and politicians and said “these telephonic records will be used as evidence in criminal prosecution of the accused in the scam.”

ED informed the court that Rs 106.95 crore in foreign money was received by telecom company Etisalat (earlier Swan) in return for just one share whose market value was just Rs 270.

The apex court was also informed by ED that it would start “attaching” and “confiscating” the properties of erring telecom companies for “violating” FEMA soon after filing of the chargesheet.