2G: Loop Telecom moves court for compounding the case

Loop Telecom Ltd, facing trial in a case arising out of the probe into the 2G spectrum scam, today approached a Delhi court for an appropriate direction to the Centre for compounding the case.
Loop Telecom Ltd (LTD), charge sheeted by CBI along with the promoters of Essar Group and Loop Telecom, filed a plea contending they are "ready and willing to any fair and reasonable terms for compounding the said offence."
LTL is the first among all the charge sheeted accused who had approached the court for compounding the offence for which they are facing trial.
In its plea, which has been put up for consideration on December 17 by Special CBI Judge O P Saini, LTL said they are facing trial for the offence of conspiracy to cheat and the said offences are "compoundable".

As per the provisions of the Code of Criminal Procedure (CrPC), offence under section 420 (cheating) of the IPC is compoundable if both the complainant and the accused arrive at a mutual consent.
LTL, in its plea, clarified the firm is "not admitting any of the allegations made in the charge sheet" and even in CBI's final report, no offence under provisions of the Prevention of Corruption Act has been made out against them.
"The applicant (LTL) has paid Rs 1454 crores to the DoT as licence fees, as per the then prevailing policy. The applicant submits that it is not even the case of the prosecution that any monetary/financial loss has been caused to the Union of India at the time of the commission of the alleged offence," it said.