Essar-Loop chargesheet: 2G court to take cognizance on Wed
The special trial court set up to hear the case against Essar and Loop Telecom in the 2G spectrum allocation case, is yet to take cognizance of the chargesheet filed against both companies.
December 18, 2011 / 13:54 IST
The special trial court set up to hear the case against Essar and Loop Telecom in the 2G spectrum allocation case, is yet to take cognizance of the chargesheet filed against both companies.
The court on Saturday reserved its decision on the chargesheet till December 21.The trial court was supposed to decide whether to take cognizance of the Central Bureau of Investigation's (CBI) chargesheet against Essar and Loop Telecom on Saturday. The central probe agency had on December 12 filed a chargesheet against five corporate leaders including Essar promoters Anshuman and Ravi Ruia and Loop Telecom promoters Kiran and IP Khaitan. They have been charged with cheating the Department of Telecom by using Loop Telecom as a "front" to secure 2G licenses in 2008.The CBI had filed another chargesheet against Essar and Loop Telecom in the 2G spectrum allocation scam case. Essar has been charged with controlling Loop Telecom through a stake in Vodafone.In the chargesheet CBI named Essar Promoter Director Anshuman Ruia, Essar Vice Chairman Ravi Ruia, Essar Group Director (Strategy & Planning) Vikas Saraf, and Loop Telecom's Kiran Khaitan and IP Khaitan. They have been charged under Indian Penal Code Sections 420 and 120(b), which deals with cheating and criminal conspiracy.As the charges of conspiracy are limited to Essar and Loop officials, former telecom A Raja and former telecom secretary Siddharth Behura have not been named for conspiracy and so the case against Ruias and Khaitans will not be heard by Special CBI judge OP Saini but by a metropolitan magistrate. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
