Charges framed against Ruias, Khaitans
Paving the way for their trial, a special CBI court on Friday framed charges against Essar group promoters Ravi Ruia and Anshuman Ruia, Loop Telecoms I P Khaitan and Kiran Khaitan and Essar group director (strategy and planning) Vikash Saraf in connection with a case arising out of the 2G spectrum allocation scam.

Charges framed against Ruias, Khaitans in 2G case
Special Court judge grants five accused bail

2G scam: Essar, Loop executives granted bail
A CBI special court on Friday charged five top executives of Loop Telecom and the Essar Group with criminal conspiracy, as part of the 2G spectrum scam.

Essar, Loop promoters to face trial in 2G case
A special court here on Friday cleared the decks for the CBI to produce evidence against Essar and Loop promoters for allegedly conspiring to cheat the exchequer in 2G spectrum allocation. Essar group promoters Ravikant Ruia and Anshuman Ruia and Loop Telecom promoters I P Khaitan and his wife Kiran Khaitan, besides Essar group Director (Strategy and Planning) Vikash Saraf were charged with the offence under Section 120 B (criminal conspiracy) read with Section 420 (cheating) of the IPC after the court found prima facie evidence against them. Saraf was also charged with the offence of cheating. All the three companies Loop Telecom, Loop Mobile India Ltd and Essar Teleholdings Ltd through their directors would also be put to trial in the case. As part of the proceedings, special CBI judge O P Saini granted bail to all the five accused on furnishing a personal bond of Rs 5 lakh and two sureties of the like amount. During investigation, the CBI preferred not to arrest the five accused. However, they were required to seek bail in order to give an assurance to the court that they would remain present during the trial. All the charges were explained to the accused, who pleaded not guilty and wanted trial in order to prove their innocence. "During the period 23.07.2007 to 09.03.2009, you all entered into an agreement at New Delhi, Mumbai and other unknown places, to do an illegal act…to cheat the department of telecommunication into issuing 21 letters of intents (LOIs), UAS licences for as many telecom circles and also valuable spectrum and in pursuance to the conspiracy, you concealed behind a complex corporate veil, the actual stakeholders of Loop Telecom Ltd," the court said. The trial will begin on July 26 and the CBI would produce its witnesses to substantiate its charges. The CBI had filed the charge sheet against all the accused on December 12 last year.

Ruias, Khaitans get bail in 2G case, but face criminal conspiracy charges
Five businessmen, including Essar Tele Holding promoters Ravi Kant and Anshuman Ruia and Loop Telecom promoters Kiran and I P Khaitan, all acused in the 2G spectrum allocation case, were granted

Ruias, Khaitans get bail in 2G case, but face criminal conspiracy charges
Five businessmen, including Essar Tele Holding promoters Ravi Kant and Anshuman Ruia and Loop Telecom promoters Kiran and I P Khaitan, all acused in the 2G spectrum allocation case, were granted bail today by a special Central Bureau of Investigation (CBI) court.

Essar's Ravi Ruia, Loop executives get bail in 2G scam case
A special court today granted bail to five corporate executives, including billionaire Ravi Ruia of the Essar conglomerate, charged in a case as part of a probe into the alleged 2G scam that has drawn in tycoons and a former minister.

Special court grants bail to Essar, Loop executives
Vikas Saraf, Ravi Ruia, Anshuman Ruia of Essar and I.P. Khaitan and Kiran Khaitan of Loop Telecom were all granted bail.

2G scam: Court grants bail to Essar Group, Loop Telecom promoters
25 May 2012 Promoters of Essar Group and Loop Telecom were today granted bail by a Delhi court in connection with a case arising out of the 2G spectrum allocation scam.Essar group promoters Ravi Ruia and Anshuman Ruia and Loop Telecom promoters I P Khaitan and Kiran Khaitan, besides Essar group Director Vikash Saraf were directed by the court to furnish personal bail bond of Rs five lakh each and two sureities of like amount.

2G scam: Bail granted to Essar and Loop promoters, charges framed
New Delhi: Promoters of Essar Group and Loop Telecom were on Friday granted bail by a Delhi court in connection with a case arising out of the 2G spectrum allocation scam. Essar group promoters Ravi Ruia and Anshuman Ruia and Loop Telecom promoters I P Khaitan and Kiran Khaitan, besides Essar group Director (Strategy and Planning) Vikash Saraf were directed by the court to furnish personal bail bond of Rs five lakh each and two sureities of like amount. Special Judge O P Saini also fixed July 26 to commence the trial against them by framing charges of conspiracy to cheat the government. While the court said that all the accused were charged with the offence under Section 120 B (criminal conspiracy) read with Section 420 (cheating) of IPC, substantial charge of cheating was made out against Saraf. "You all committed an offence punishable under Section 120 B read with 420 IPC and within my cognizance," the judge said. "Secondly during the said period, you accused Vikas Saraf got false representations made to the DoT officials through your subordinates/employees to the effect that the applicant company was in compliance of clause 8 of UASL guidelines and misled/cheated them into believing so and issuing LoIs, signing of UAS licences and allocation of spectrum and thereby you committed an offence punishable under section 420 IPC and within my cognisance," the judge added. The court on May 11 had reserved the order on the framing of charges against the eight accused, including three companies- Loop Telecom Pvt Ltd, Loop Mobile India Ltd and Essar Teleholdings Ltd. (Agencies) Latest News from India News Desk

2G-Court-grants-bail-to-Essar-Loop-Promoters-frames-charges
CBI has said that Loop played 'hide and seek' with DoT and concealed information on Essar link.

2G: Bail granted to Essar and Loop Promoters, charges framed
2G: Bail granted to Essar and Loop Promoters, charges framed

2G: Bail granted to Essar, Loop promoters
New Delhi: Promoters of Essar Group and Loop Telecom were on Friday granted bail by a Delhi court in connection with a case arising out of the 2G spectrum allocation scam. Essar group promoters Ravi Ruia and Anshuman Ruia and Loop Telecom promoters I P Khaitan and Kiran Khaitan, besides Essar group director (strategy and planning) Vikash Saraf were directed by the court to furnish personal bail bond of Rs five lakh each and two sureities of like amount. Special Judge O P Saini also fixed July 26 to commence the trial against them by framing charges of conspiracy to cheat the government.

2G: Bail Granted to Essar, Loop Promoters
Promoters of Essar Group and Loop Telecom were today granted bail by a Delhi court in connection with a case arising out of the 2G spectrum allocation scam.

2G: Bail to Essar and Loop Promoters, charges framed
Promoters of Essar Group and Loop Telecom were today granted bail by a Delhi court in connection with a case arising out of the 2G spectrum allocation scam.

2G case: Charges framed against Essar, Loop promoters
A special CBI court Friday framed charges of conspiracy to cheat against the promoters of the Essar Group and Loop Telecom in the 2G spectrum allocation case.

Essar's Ravi Ruia, Loop executives get bail in 2G case
A special court on Friday granted bail to five corporate executives, including billionaire Ravi Ruia of the Essar conglomerate, charged in a case as part of a probe into a massive telecoms licensing scandal that has drawn in tycoons and a former minister. The court in New Delhi, which is hearing the case over alleged rigging in the grant of second-generation radio airwaves to carriers in a 2008 state sale, allowed bail pleas of Ruia, his nephew, and a senior Essar group executive. The court also granted bail to two of the owners of mobile carrier Loop Telecom.

Rupee volatility to continue, needs intervention: Kaushik Basu
Kaushik Basu, chief economic adviser to the finance ministry, said rupee volatility is expected to continue. Related Stories Morgan Stanley may refund some Facebook investors Rupee rebounds against US dollar; RBI intervention seen Sensex falls on weak rupee, Asian stocks; Bharti gains 2G: Delhi court grants bail to Loop, Essar promoters 2G case: Loop, Essar executives get bail

Essar's Ravi Ruia, Loop execs get bail in 2G case
NEW DELHI (Reuters) - A special court on Friday granted bail to five corporate executives, including billionaire Ravi Ruia of the Essar conglomerate, charged in a case as part of a probe into a massive telecoms licensing scandal that has drawn in tycoons and a former minister.

Essars Ravi Ruia gets bail in 2G case
A special court on Friday granted bail to five corporate executives, including billionaire Ravi Ruia of the Essar conglomerate.

2G: CBI court charges Essar, Loop promoters
Essar promoters Ravi and Anshuman Ruia, and Loop Telecom's Kiran Khaitan and IP Khaitan have been charged with conspiracy while Essar's Director for Strategy and Planning Vikash Saraf has been charged with cheating and conspiracy in the 2G spectrum allocation scam. The Special Central Bureau of Investigation (CBI) court also granted them bail on a surety bond of Rs 5 lakh each while charging them.

2G case: Delhi court grants bail to Essar and Loop Telecom promoters
A Delhi court granted bail to the promoters of Essar group and Loop Telecom in a case arising out of 2G spectrum scam.