The Central Bureau of Investigation (CBI) has received the opinion of G.E. Vahanvati, the Attorney General of India, on the Essar Group-Loop Telecom cross-holding of shares issue. The agency is expected to shortly decide whether to file a chargesheet or not.
The agency has claimed that the Essar Group held more than 10 per cent of cross-holdings in Loop Telecom, which was against existing norms.
The agency?s charge is, however, denied by both the Essar Group and Loop Telecom. The Attorney General had endorsed the CBI?s stand to prosecute certain officials for allegedly conspiring for securing 2G spectrum and also suppressing information.
