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Essar Group ‘used’ Loop Telecom To Acquire 2G Licences: CBI

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Loop Telecom Ltd (LTL) was “used” by Essar Group of companies to acquire 2G spectrum licences by “circumventing” the procedures, the CBI today argued before a special court.

Advancing the final arguments in a case arising out of its probe into the 2G scam, the agency said the evidence brought on record showed that Loop Telecom was “controlled” by the Essar Group of companies.

Essar Group promoters Ravi Ruia and Anshuman Ruia, Loop Telecom promoters, Kiran Khaitan, her husband I P Khaitan and Essar Group Director (Strategy and Planning) Vikash Saraf are facing trial in the case, along with three telecom firms — LTL, Loop Mobile India Ltd and Essar Tele Holding Ltd (ETHL). Original post at ET Telecom

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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