2G: Ruias face CBI charge sheet in 10 days

Attorney general gives a go-ahead to agency

ashishm

Ashish Mehta | November 24, 2011


Prashant Ruia of the Essar group
Prashant Ruia of the Essar group

The Ruia brothers of the Essar group and key executives of Loop Mobile are expected to be charge-sheeted by the Central Bureau of Investigation in ten days in connection with the 2G spectrum allocation scam, a highly placed source in the investigating agency said.

“This week, attorney general Goolam Vahanvati gave us the go-ahead to charge-sheet the Ruias and others. We will act on it in the next ten days," the source told Governance Now.

Loop Mobile, which got a telecom licence, has been under the CBI scanner. The CBI suspects Loop to be a front company of the Essar group. It was set up to enable Essar group to bid for the 2G spectrum sale because Essar, already being a major telecom operator (Vodafone-Essar) was otherwise not qualified to bid. Rules don't permit one company to have more than 10% share-holding in two telecom firms.  While Essar claims that it held only 2.15% of the shares in Loop (and hence Loop was eligible for spectrum), the CBI believes that Loop is an Essar front set up blind side the law.

CBI officials argue that Loop was in fact formed by Essar only to secure a 2G licence. The agency had to seek the attorney general’s opinion on the charge-sheet against the Ruias, as there was a rift in the corporate affairs ministry on whether Loop could be considered an Essar associate or not. With the attorney general now agreeing unequivocally with its view, the CBI is readying to file the charge-sheet soon.

Loop got the license when A Raja was minister of telecommunications.

Comments

 

Other News

Supreme Court gets five new judges

Five new judges were appointed to the Supreme Court of India on Monday. "Vide Notifications of even number dated 01.06.2026, in exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the Hon’ble President of India is pleased to appoint (i) Shri

Astonishing breadth and depth of ancient Indian knowledge systems

The Greatest Books of Ancient India: Incredible Ideas about Science, Music, Maths, Art and More By Dr. Pradeep Chakravarthy and Dr. R. Thiagarajan Hachette India, 208 pages, Rs 399  

Strong El Nino threat over India`s monsoon, food & water security

India is heading into the southwest monsoon season this year under the shadow of a rapidly strengthening El Nino, with meteorologists warning that the climate phenomenon could significantly disrupt rainfall patterns, intensify heat stress and place additional pressure on the country’s agriculture-d

How corporates can nudge real change

The Business Of Business Is (Not) Just Business: How Behavioural Tools Can Drive Real Change Edited by Sutapa Banerjee, with Foreword by Nadir Godrej HarperCollins, 336 pages, Rs 699  

India stopped jailing people for paperwork. Now comes the hard part

A small pharmacist in Rajkot neglects to change a notice in his store under a little-known clause of a public health law. This was not only a non-compliance matter, but also a criminal offence, and a jail sentence was the punishment under the old system. Not a fine. Not a warning. Jail. Now scale

How to make our cities climate-resilient

Indian cities are growing at a pace that our infrastructure and climate can no longer sustain. This rapid urban sprawl increasingly strains urban systems, overshadowing the severe environmental fallout produced in its wake. The repercussions include Urban Heat Island Effect (UHI), Urban Floods, and many mo





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter