2G scam: CBI summons Essar-Loop management

The special CBI court has summoned the management of Essar and Loop telecom in connection with the 2G scam. The courthad taken cognizance of the second supplementary chargesheet that was filed by the CBI on 12 December, implicating both companies in relation to the case. The management of both companies will have to appear before the courts on 27 January, 2012.

On 17 December, the CBI had lined up 100 witnesses, including Adil Malia, Group President (HR) Essar Group, seeking to buttress its case against the Ruias and the Khaitans, accused in the 2G spectrum case.

CBI had also adduced 398 documents seeking to prove its case in which it had alleged that Loop Telecom was created as a front company of Essar Group to secure 2G licenses in 2008.

In a statement earlier, Essar Group had denied any involvement in the 2G scam and said it has only 2.15 percent stake. They also claimed that the group did not violate clause 8 of the Unified Access Services Licences (UASL) guidelines.

However, CBI alleged the accused persons and companies created a “complex corporate veil” to cheat the Department of Telecommunications by concealing that Essar, an existing telecom operator having substantial shares in Vodafone (then Hutch), had more than 10 percent stake in the Loop.

The 2G case is currently being heard in Delhi.

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