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2G: Trial begins against Essar and Loop Telecom promoters


The trial against the promoters of Essar group and Loop Telecom, accused in a case arising out of probe in the 2G spectrum allocation scam, has begin from Thursday 26th July.
 
Special Judge O P Saini recorded the statements of two CBI witnesses in the case in which Essar group promoters Ravi Ruia and Anshuman Ruia, Loop Telecom promoters I P Khaitan and Kiran Khaitan and Essar group Director (Strategy and Planning) Vikash Saraf have been named as an accused.
 
Besides these five, three telecom firms -- Loop Telecom Pvt Ltd, Loop Mobile India Ltd and Essar Teleholdings Ltd -- have also been arrayed as an accused in the case. The court on May 25 had paved the way for their trial after framing against them the charges of conspiracy to cheat the government.
 
The court had charged all the accused for the offences under Section 120 B (criminal conspiracy) read with Section 420 (cheating) of IPC, while substantial charge of cheating was made out against Saraf.
 
The court, while framing charges against the accused, had granted bail to Ruias, Khaitans and Saraf on a personal bond of Rs five lakh each and two sureties of like amount. 
 
During recording of statement, prosecution witness Sumeet Rakesh Khanna, a bank official, was shown some documents pertaining to the bank account of Essar Teleholdings Ltd in ABN Amro Bank, where he was earlier working. He told the court that ABN Amro Bank was later acquired by the Royal Bank of Scotland.
 
Khanna, who is presently working with Firstrand Bank in Mumbai, identified account opening form of Essar Teleholdings Ltd at Chennai branch of ABN Amro Bank and said that it was signed by the company's authorised signatory. (PTI)
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