New Delhi:
The telecom scam will claim new corporate casualties this week. Sources in the Central Bureau of Investigation (CBI) confirm that a new chargesheet will accuse two big India Inc companies, Loop and Essar, of cheating and conspiracy.
Loop is owned by the Khaitan family; Essar belongs to the Ruias. CBI sources say that both the Khaitans and the Ruias are likely to be named in the chargesheet.
The CBI will find that Essar used Loop as a front to acquire more licences and spectrum than legally allowed in 2008, when A Raja was the telecom minister. Mr Raja is currently in jail and is being tried for charges that include criminal breach of trust by a public servant.
Along with Mr Raja, the executives of some of India's biggest telecoms - Swan, Unitech Wireless and Relianace ADAG - were arrested but have been granted bail in the last few weeks.
Reliance ADAG has also been accused of using Swan as a front. The Law Ministry has said that neither Essar nor Reliance ADAG used proxy firms to get around restrictions. But the Attorney General of India, GE Vahanvati, has reportedly differed and his opinion forms the basis of the CBI's case against both the companies.
The telecom scam is being tried by Judge OP Saini in Delhi. The CBI's investigation is being monitored by the Supreme Court.
Loop is owned by the Khaitan family; Essar belongs to the Ruias. CBI sources say that both the Khaitans and the Ruias are likely to be named in the chargesheet.
The CBI will find that Essar used Loop as a front to acquire more licences and spectrum than legally allowed in 2008, when A Raja was the telecom minister. Mr Raja is currently in jail and is being tried for charges that include criminal breach of trust by a public servant.
Along with Mr Raja, the executives of some of India's biggest telecoms - Swan, Unitech Wireless and Relianace ADAG - were arrested but have been granted bail in the last few weeks.
Reliance ADAG has also been accused of using Swan as a front. The Law Ministry has said that neither Essar nor Reliance ADAG used proxy firms to get around restrictions. But the Attorney General of India, GE Vahanvati, has reportedly differed and his opinion forms the basis of the CBI's case against both the companies.
The telecom scam is being tried by Judge OP Saini in Delhi. The CBI's investigation is being monitored by the Supreme Court.
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