The fresh news, a special CBI court on Friday produced the bail to all five businessmen who were allegedly charged of criminal conspiracy to cheat the government in connection with a case arising out of the 2G spectrum licensing scandal.
Five business men are- billionaire Ravi Ruia and Anshuman Ruia from the Essar group, Loop Telecom’s I P Khaitan and Kiran Khaitan and Essar group director Vikash Saraf.
Framing charges against them, the court also bailed three corporates – Loop Telecom Ltd, Loop Mobile India Ltd and Essar Holdings Ltd.
After the hearing, a special judge O P Saini framed charges with the offence under Section 120B (criminal conspiracy) read with Section 420 (cheating) of IPC against the accused and fix July 26 date for the trial.
According to the Court’s 81-page combined order on bail, Saraf had made false representation before the DoT. Adding that, there was no apprehension that they could tamper with evidence if released on bail.
Rs 5 lakh bail bond has been provided to each personal, however all of them should have to present as per fixing trial dates including giving passports to authorities.
As per source saying, Delhi court has also approved criminal conspiracy charges against Ruia, Anshuman Ruia, and senior Essar group executive Vikash Saraf, granting them bail, while bail also granted to Kiran Khaitan and I.P. Khaitan, two of the owners of Loop Telecom.
India’s ninth richest billionaire Ravi Ruia along with others have been accused of violating a rule as that result they restricts from owning 10 percent or more than one competing telecom carriers.