Essar Group ‘used’ Loop Telecom to acquire 2G licences: CBI

Update: 2015-04-02 22:54 GMT
Loop Telecom Ltd (LTL) was “used” by Essar Group of companies to acquire 2G spectrum licences by “circumventing” the procedures, the CBI argued said on Wednesday. Advancing the final arguments in a case arising out of its probe into the 2G scam, the CBI said the evidence showed that Loop Telecom was “controlled” by the Essar Group of companies. Essar Group promoters Ravi Ruia and Anshuman Ruia, Loop Telecom promoters, Kiran Khaitan, her husband IP Khaitan and Essar Group Director (Strategy and Planning) Vikash Saraf are facing trial in the case, along with three telecom firms -- LTL, Loop Mobile India Ltd and Essar Tele Holding Ltd.

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