The court rejected Ruia's application in which he had sought modification of the bail condition regarding surrender of his passport.
Advancing the ongoing final arguments in the case, Special public prosecutor Anand Grover said that people may have nominal role in a firm but the question is who exercises the direct control or who have "significant influence" in the policy-making of a company.
Advancing the ongoing final arguments in the case, Special public prosecutor Anand Grover said that violation of clause 8 of UASL guidelines by the accused firms was a crucial factor.
CBI on Thursday alleged before a special court that Essar Group of companies had created a “corporate veil†through a web of firms to “conceal†its actual holding in Loop Telecom Ltd (LTL) to “circumvent†the guidelines of Unified Access Services Licences (UASL).