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| CBI questions clean chit to Essar-Loop |
| BS REPORTER New Delhi, 6 July THE Central Bureau of Investigation (CBI) today questioned in the Supreme Court the clean chit given to Loop Telecom by the corporate affairs ministry in the 2G telecom spectrum scam. Loop was among the nine companies allotted licences in 2008 when A Raja was the telecom minister. A telecom company cannot own more than 10 per cent in another telecom company in the circle where it operates. Essar, a partner in Vodafone Essar, owned more than 10 per cent in Loop when the licences were given, it is alleged. At the centre of the investigation is whether Essar owns Loop. In 2009, the corporate affairs ministry said Loop was ineligible for the 2G licence under this rule. It recently revised its view. CBI today submitted a 71page status report on the scam probe in the court. Senior Advocate K K Venugopal, representing CBI, read excerpts from the report before a Bench of Justice G S Singhvi and Justice A K Ganguly. CBI told the court it would complete its probe into the money trail of Essar and Loop Telecom by August-end. The report also dealt with the Aircel-Maxis deal. Aircel founder and Sterling group Chairman C Sivasankaran, in astatement to CBI, recently named 10 witnesses in connection with a deal between Aircel and Maxis around five years ago. Turn to Page 16 On Page 9 Parties demand Maran’s resignation LOOKING BACK Timeline of the CBI case on Essar-Loop: From Salman Khurshid to Murli Deora 2009 The corporate affairs ministry declares Loop ineligible for the 2G licence. Salman Khurshid is the minister. 2011 APRIL The corporate affairs ministry gives a clean chit to Loop. Murli Deora is the minister. MAY CBI sends a team to Mauritius to probe the Essar-Loop link. MAY CBI officials indicate the third charge sheet related to 2G scam will be framed by July. The Essar-Loop link is believed to be the mainstay of the charge sheet. Source: Ministry of Corporate Affairs, CBI GRAPHIC: SAMIR KUMAR |
| CBI questions... Sivasankaran alleged that the then telecom minister, Dayanidhi Maran (now textiles minister), “coerced” him into selling his stake to Maxis. Maran denies this. The CBI report underlines the charge, saying the “promoter of a Chennai-based telecom company was forced to sell his firm to a Malaysian firm in 2006”. Without taking Maran’s name, Venugopal said the Chennai businessman was not granted a licence for two years. CBI told the court the third charge sheet in the case would be filed by August 31. It also said the probe into irregularities in spectrum allocation during 2001-08 would be completed by September-end. The report says CBI is investigating Delphi’s investment in Swan Telecom as well. |