Essar Group,Loop Telecom two different groups

A prosecution witness on Wednesday told a Delhi court trying a case,arising out of the probe in the 2G spectrum allocation scam,against promoters of Essar Group and Loop Telecom that the entities were two different groups.

The CBI had alleged that Loop Telecom Pvt Ltd was a front company for Essar,which already had a stake as an existing telecom operator,to secure additional spectrum which was against the then telecom policy.

R Kirthivasan,a chartered accountant,told Special CBI Judge O P Saini his accountancy firm has been doing audit works for both Essar and Loop,and employees of both the groups used to assist him in their respective work separately. 8230;It is correct that Essar group and Loop group are two different groups, he said.