2G: Trial begins against Essar-Loop promoters

July 26th, 2012 - 8:02 pm ICT by IANS  

New Delhi, July 26 (IANS) The trial of promoters of the Essar Group and Loop Telecom in the 2G case started Thursday in a CBI special court here.

Two bank officials deposed as prosecution witness in the case before Central Bureau of Investigation Special Judge O.P. Saini.

The court May 25 framed charges of criminal conspiracy against five corporate honchos of Essar Group and Loop Telecom, before granting them bail. The same charges were framed against three telecom firms in the 2G case.

A third set of formal charges filed by the CBI in the 2G case alleged that the promoters of the Essar Group were the real investors and beneficiaries of the spectrum and licences issued to Loop Telecom in 2008.

The CBI said Loop was used as a front company by the Essar Group to acquire the 2G licences and spectrum. This has been vehemently denied by the accused.

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