Loop front of Essar, MCA, DoT chose not to probe it, says CBI

CBI seeks prosecution of Essar, Loop promoters on the charges of cheating, criminal conspiracy under the IPC

PTI | December 19, 2011



CBI, in its third charge sheet in 2G spectrum case, has said Loop Telecom Ltd was a Essar Group company "under a corporate veil" and even Ministry of Corporate Affairs (MCA) and Department of Telecommunications (DoT) "chose not to investigate" and allowed it "to rest".

The "vague" MCA report on the DoT's plea to examine the allegations against accused firm Loop Telecom was mentioned in the 105-page charge sheet filed before Special CBI Judge O P Saini who has fixed the case on December 21 for orders on taking cognizance against the eight accused.

The charge sheet said despite the report of a Deputy Director (inspection) of MCA that the Clause 8 of the Unified Access Services Licences (UASL) guidelines of 2005 was violated, the Ministry, "instead of conveying such a definite opinion to the DoT, chose to send a non-committal vague report" elaborating control of Essar Group over Loop Telecom.

The report had come on a complaint referred to the MCA by the DoT to probe whether Loop was a front of Essar Group.

The agency seeks prosecution of Essar group promoters Anshuman and Ravi Ruia, Loop Telecom promoters Kiran Khaitan, her husband I P Khaitan and Essar Group director (Strategy and Planning) Vikash Saraf on the charges of cheating and criminal conspiracy under the IPC.

Comments

 

Other News

In search of affordable medicines for the poor

A high-level panel hosted by India as part of the BRICS group of countries discussed the issues of trade deals that inhibit access to medicines and also limit policy space for governments to legislate in public interest.  Minister of state for health and family welfare Shripad Naik cal

A unified way of doing banking

The banking coverage might be poor in rural parts but in cities many people have at least two bank accounts. Keeping a tab on them is a hassle. More so, if you are managing them on a smartphone. You would then have multiple apps on your handset, and for any transaction you select one of them and then enter

Lucknow, Ranchi among 13 winners of smart city competition

Urban development ministry has announced the list of 13 cities which have been chosen to be developed under the government’s Smart City plan. The names were shortlisted through a fast tr

Fundamental rights vs fundamentalism

The Shayara Bano case has placed the Muslim personal law under the judicial scanner yet again. The supreme court is set to examine triple talaq, polygamy and other discriminatory practices against women on the touchstone of the fundamental rights guaranteed under the constitution. Though there have

Jayalalithaa shuts 500 liquor shops

 J Jayalalithaa began her second term as the chief minister of Tamil Nadu on Monday by announcing closure of 500 Tamil Nadu State Marketing Corporation (TASMAC) liquor shops.  The chief minister also ordered that liquor outlets can be open only from 12 pm to 10 pm.  

Light showers cool Delhi, but hot weather to be back

 Delhiites breathed a sigh of relief as light rainfall drenched the national capital region in the late afternoon on Monday. The mercury settled at 42 degrees Celsius in early afternoon.    “Precipitation is likely today and tomorrow which will reduce

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter