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Essar's 2G defence: We've not done anything wrong!
Essar group promoters Anshuman and Ravi Ruia along with Loop Telecom promoters Kiran Khaitan, IP Khaitan are amongst those named as accused in the third charge sheet of the CBI. But Prashant Ruia is sticking to his guns and maintaining that the group has not done anything wrong.
The Essar group is facing the heat in the 2G case. Essar group promoters Anshuman and Ravi Ruia along with Loop Telecom promoters Kiran Khaitan, IP Khaitan are amongst those named as accused in the third charge sheet of the CBI . But Prashant Ruia is sticking to his guns and maintaining that the group has not done anything wrong.
Speaking to CNBC-TV18's Archana Shukla, Ruia maintained that they have not been part of the entire 2G scam. He said that the chargesheet also does not talk anything of the Prevention of Corruption (PC) Act. He reiterated that its more of a clause -8 perspective and not really the PC Act.
Ruia specifically said, "We have not made any error or mistake in this entire 2G thing." It is the first time after the second chargesheet came in which named Ravi Ruia and Anshuman Ruia of the group that Prashant Ruia spoke about this and said that they are maintaining their stand.
He added that there has been no impact on the investor confidence or the brand value of the company. In fact the company is building up their capacities. Ruia said that building assets is adding to investors confidence. Going forward, we could see Essar Steel also being listed on the exchanges.
The company has just done a 10 million tones per annum capacity and will be going upto 14 million tonne per annum. That would probably be the next asset that we could see coming up on the exchanges either in India or overseas like in case of Essar Oil .
