Besides Ruias, the court acquits Vikash Saraf, Loop Promoters, and three companies
The special court acquitted Essar Group promoters Ravi Ruia and Anshuman Ruia in the 2G (second generation) spectrum allocation scam on Thursday. Besides Ruias, the court also acquitted Vikash Saraf, one of the Essar Group directors, Loop Telecom promoters IP Khaitan and Kiran Khaitan, and three companies — Loop Telecom Ltd, Loop Mobile (India) Ltd and Essar Teleholdings Ltd.
The Central Bureau of Investigation (CBI) had filed a separate case alleging Essar Group had cheated the Department of Telecommunication (DoT) by using Loop Telecom Ltd as a front to secure 2G licences in 2008.
It was alleged that Loop Telecom Ltd was front company of Essar Group to acquire 21 Unified Access Services (UAS) licences and spectrum violating laid out guidelines by DoT.
Acquitting everyone one in the case, CBI Special Judge OP Saini in the judgement said, "The prosecution has not been successful in proving any of the ingredients either of the offence of conspiracy to cheat DoT or of the substantive offence of cheating. Accordingly, I have absolutely no hesitation in holding that prosecution has miserably failed to prove any charge against any of the accused. Consequently, all accused are entitled to be acquitted and are accordingly acquitted."
Welcoming the judgement, the Essar Group in a statement said, "We are thankful to the court for the judgement as it vindicates our stated position and the court has appreciated it."
The case allegedly is a case of criminal conspiracy to cheat the DoT into issuing 21 UAS licences to Loop Telecom Ltd, an ineligible company, as it was a front of Essar group of companies, which was already having more than 10% equity in an existing pan India licensee, that is, Vodafone Essar Ltd. In pursuance to the conspiracy, the DoT was in fact allegedly cheated also into issuing these licences, the CBI had stated in its FIR and chargesheet.
On October 21, 2009, the CBI registered has an FIR against unknown officials of DoT, unknown private persons and companies and others for the offence punishable under Section 120B IPC read with Section 13(2) r/w 13(1)(d) of Prevention of Corruption Act, 1988 (PC Act), on allegations of criminal conspiracy and criminal misconduct, in respect of allotment of Letters of Intent (LOI), Unified Access Services (UAS) Licenses and spectrum by the DoT.
Essar hails order
- Welcoming the judgement, the Essar Group in a statement said, “We are thankful to the court for the judgement as it vindicates our stated position and the court appreciated it.”
- The case allegedly is a case of criminal conspiracy to cheat the DoT into issuing 21 UAS licences to Loop Telecom Ltd, an ineligible company, as it was a front of Essar group of companies, which was already having more than 10% equity in an existing pan India licensee, that is, Vodafone Essar Ltd.
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