New Delhi: The Central Bureau of Investigation (CBI) may soon file a chargesheet against some officials of Loop Telecom and Department of Telecom for alleged misrepresentation of facts about the cross-holding of shares by oil major Essar in the telecom venture in the grant of 2G spectrum allocation case.
Both the companies – Essar and Loop Telecom – have denied any wrongdoing in the case and the stand of the two companies has been supported by the Corporate Affairs and Law Ministries.
The agency on Thursday reviewed the opinion of Attorney General G E Vahanvati sought over the investigations carried out by the CBI after the Law Ministry had opined that the agency should not go in for any chargesheet in this case.
According to official sources, Vahanvati is understood to have sided with the CBI probe which has favoured chargesheet in the case against some of the officials of the private sector and DoT for alleged cheating only.
It is understood that the Attorney General has agreed that the promoters can be prosecuted for conspiracy to obtain telecom licenses by violating guidelines.
The agency has claimed Essar had more than 10 per cent of cross-holdings in Loop Telecom, which was against norms. CBI's charge is, however, denied by both Essar and Loop. Essar has maintained it had adhered to rules and complied with telecom guidelines.
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