Today, Nira Radia announced her exit from the communication and consultancy business by making the decision to close down ‘VAISHNAVI CORPORATE COMMUNICATIONS’, which had an impressive clientele including the Tata group and the Mukesh Ambani led Reliance industries limited (RIL). Citing as family and health as her priorities, Ms Radia decided to close her consultancy group and described it as ‘quite painful’.

Nira was put under the scanner after the leakage of the controversial Radia tapes where her association in the 2G spectrum case were severely questioned, Nira was found lobbying for  telecom minister  A Raja and also seeking the help of Barkha Dutt in the lobbying process who was also scandalized in due process. The Indian income department, after being authorized by the home ministry, tapped Ms Radia’s phone for 300 days as a part of one of their investigations in2008-2009.

Open magazine in their November 2010 issue, first reported these transcripts between Nira Radia and her alleged lobbying for A raja for being appointed as the telecom minister through the help of several eminent journalists, ministers  and corporate personalities, many of whom have denied these allegations. Though Nira was not closely being convicted in the 2g spectrum case, she was held as a witness,

The ‘vaishnavi’ group consisted of 200 employees, many of whom have now will be reportedly absorbed by the Tata group and the reliance group.

Mr. Ratan Tata, chairperson of the tata group, whose association with the vaishnavi group began with 2001 after he met Nira while she was working on a joint venture by Singapore Airlines-Tata Airlines, said that the Tata group respects Ms Radia’s decision and declared that he found the association with Vaishnavi group quite satisfactory.

Also, spokesperson of the reliance industries limited (RIL), was quoted saying that it was close fulfilling association which was held as beneficial on the part of the Reliance Industries Limited (RIL). Several eminent personalities were held directly involved lobbying for a raja as being appointed as the telecom and it minister who was found bending all the rules for allotment of the telecom licenses and often found under pricing and on a first-come-first serve basis, which reportedly caused a $40 billion dollar loss to the government of India and also led to a system which lacked any kind of transparency. He was arrested on February 2, 2011. Both Raja and his personal aide, R.K. Chandolia were heard in conversation in the controversial Radia tapes.

NEERA’S EXIT FROM COMMUNICATION BUSINESS

Legal news report by : Indrani Chowdury