Essar-Loop: CBI to file chargesheet

The CBI has received the Attorney Generals opinion on Essar-Loop and will file a chargesheet against the two companies,its promoters and other officials in the 2G scam case. AG G E Vahanvati is learnt to have agreed with the CBI findings saying the promoters and officials of the companies were involved in a conspiracy to obtain telecom licenses by violating guidelines.

The allegation against Essar promoters is that they floated Loop Telecom to obtain telecom licenses during the tenure of former telecom minister A Raja. This,according to the CBI,was violation under clause 8 of the Unified Access Service Licenses UASL guidelines,which says that no single company either directly or through its associates shall have substantial equity holding in more than one licensee company in the same service area8230;. The DoT issued 21 UAS license to Loop Telecom in 2008. According to CBI,Essar has used a complex web of companies to indirectly hold entire share holding in Loop Telecom.