Besides Ruias, the CBI charged Essar Group director (strategy and Planning) Vikas Saraf, Loop Telecom promoters Kiran Khaitan and her husband I P Khaitan.
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 500,000 each and two sureities of like amount.
Vodafone CEO Arun Sarin on Thursday met key members of the Ruia family, as part of efforts to woo the Essar Group to ensure smooth sailing of mobile venture Hutch-Essar, where the UK company is acquiring majority stake.
The ongoing arguments in the case remained inconclusive and would continue on August 5
The Central Bureau India (CBI) on Monday alleged before a special court that Essar Group of companies had created a "corporate veil".
Over a year after the judgement was reserved, a bench of justices G S Singhvi and S J Mukhopadhaya rejected the pleas of the telecom companies which pleaded that they be tried in a magisterial court unlike other accused in 2G cases as they have not been charged under Prevention of Corruption (PC) Act.
The exploration and production assets of Essar Oil will not be part of the Rosneft deal and would continue to remain with the Group.
Within a month of the Comptroller and Auditor General of India (CAG) tabling the coal block allocation report in Parliament in August last year, the Central Bureau of Investigation (CBI) filed a First Information Report (FIR) against Hyderabad-based Navabharat Power Private Ltd for the coal block allotted to it in Odisha in January 2008.
The court said a 'scam was created when there was none'.
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