Essar Group denies role in 2G scam

Essar Group today denied any involvement in the 2G spectrum allocation scam and said it has complied with in totality with all conditions of telecom licences.

"We would like to reiterate that Essar has complied with all conditions of clause 8 under UASL guidelines (dealing with cross-holding) in totality and all the facts which have been given at the time of submitting the application for telecom licence i.E, shareholding/ownership have been independently verified by the government agencies," Essar Group said.

 Essar Group is a responsible corporate citizen and has always complied with all government guidelines and the law of the land, the group said in a statement.

The CBI today filed the third chargesheet in the 2G spectrum allocation scam case alleging involvement of Essar Group and Loop Telecom.

"The only charge filed by CBI is regarding the interpretation of a contractual issue. This relates to the question of violation of clause 8 under the UASL guidelines," Essar said.

The group said despite the Ministry of Corporate Affairs and the Ministry of Law and Justice having confirmed that there was no clause 8 violation, the CBI has proceeded with the chargesheet.

"CBI and the Attorney General have gone contrary to the opinion given by the Ministry of Law and Justice and the Ministry of Corporate Affairs. The CBI has also gone against their internal legal advice," it said.

Essar will take legal recourse in this regard, the statement said