Essar-Loop case: 2G court to hear final arguments on Nov 17

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A Special Court today fixed November 17 for hearing the ongoing final arguments in a case arising out of 2G scam probe in which promoters of Essar group and Loop Telecom Limited (LTL) are facing trial.
Senior advocate Harish Salve appearing for accused firm, Essar Tele Holdings Limited (ETHL), submitted before Special CBI Judge O P Saini that he will largely argue on two crucial issues regarding the matter.
"I will be arguing on two crucial issues. Firstly on the interpretation of Clause 8 of Unified Access Services Licences (UASL) guidelines and secondly on the funding pattern," Salve said.
After hearing the arguments briefly, the court deferred the matter for November 17.

CBI had earlier told the court that Essar Group was "effectively controlling" LTL which had "fraudulently and dishonestly" misrepresented facts before Department of Telecommunications (DoT) to acquire 2G spectrum licences.
The agency had argued that entire funding in this case was by Essar Group of companies and restructuring of firms was done to conceal the fact that the Group controlled LTL.

Essar Group promoters Ravi Ruia and Anshuman Ruia, Loop Telecom promoters, Kiran Khaitan, her husband I P 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 ETHL.

The five individuals accused, who are out on bail, have denied the charges levelled by CBI.
CBI had chargesheeted the accused on December 12, 2011, alleging they had cheated the DoT by using Loop Telecom as a "front" to secure 2G licences in 2008.
On May 25, 2012, the court had framed charges against all the accused under section 120-B (criminal conspiracy) read with section 420 (cheating) of the IPC, while the substantive charge of cheating was made out only against Saraf.
The recording of prosecution evidence in the case started on July 26, 2012. The court had recorded the statements of 95 CBI witnesses, running into 1,056 pages, while the accused examined 12 witnesses in their defence.