A Special Court, hearing the 2G spectrum case, will on May 3 begin hearing arguments on framing of charges allegedly involving Essar Group and Loop Telecom promoters.
The Special Judge Mr O P Saini will also take up on May 3 the bail plea of five accused—Essar Group’s Mr Ravikant Ruia, Mr Anshuman Ruia and Essar Group director (Strategy and Planning) Mr Vikas Saraf as well as Loop Telecom promoters Mr I P Khaitan and his wife Ms Kiran Khaitan.
The matters will be heard on May 3 and 4 and later on May 7 and 8.
On December 12 last year, the CBI had filed a chargesheet before the Special Court naming these five persons as accused. Besides, three companies—Loop Telecom Pvt Ltd, Loop Mobile India Ltd and Essar Teleholdings Ltd—were also named. The agency levelled charges of cheating and criminal conspiracy against all.
The allegation against Essar is that though it had substantial stake in Vodafone Essar, it set up Loop Telecom as a front company in violation of the existing norms to illegally obtain additional spectrum. Essar has denied all charges.
However, the CBI did not find evidence to charge these accused with offences under the Prevention of Corruption Act. Essar has moved the Supreme Court claiming that since there is no allegation of corruption against them, the Special Court has no jurisdiction to hear the case against them.