Court pulls up telecom firm’s promoters

The promoters faced the ire of the court after Pratiba Ramaswamy told Special CBI Judge O P Saini that she has ceased to be the official liquidator since April 20, 2015.

The special CBI court, which is hearing the 2G case, on Monday pulled up the promoters of Loop Telecom Ltd for not informing about the change of official liquidator who was dealing with the issue of winding up Loop Mobile India Ltd.

The court also warned Kiran Khaitan and her husband I P Khaitan that their bail could be cancelled.

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The promoters faced the ire of the court after Pratiba Ramaswamy told Special CBI Judge O P Saini that she has ceased to be the official liquidator since April 20, 2015.

The court then asked the counsel of the promoters why they had not informed the court about it.

“This is nothing but fraud on the court. Both the promoters are sitting here and they concealed this fact…You may say you were not aware about it but I also know law. You cannot conceal any fact from the court,” the judge said.

The court has now fixed the matter for further hearing on August 5.

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