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Essar: Charges far-fetched CBI conclusions

Trying to refute allegations that it had used Loop Telecom as a front to obtain 2G licences,the Essar Group told a Delhi court

Written by Express News Service | New Delhi | Published: May 8, 2012 12:38 am

Trying to refute allegations that it had used Loop Telecom as a front to obtain 2G licences,the Essar Group Monday told a Delhi court that these were far-fetched conclusions made by a CBI that did not comprehend the complex corporate structure.

“The CBI does not have to go on a wild-goose chase just because you have seen a complex corporate structure. Facts are at odds with final conclusion (the CBI) is arriving at,” Essar counsel Harish Salve told the court hearing the case. He cited the SC ruling that companies can organise their structures to suit their business interests,so long as it is not against the law.

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