The Delhi High Court will reportedly hear the final arguments pertaining to the Loop-Essar Group case on January 24, 2012. Both companies will present their arguments on why their case should be heard by a magistrate or the Central Bureau of Investigation (CBI) special court handling the 2G trial.
In their petition, Loop and Essar had said that the CBI court did not have the jurisdiction to try the case, as they were not charged under the Prevention of Corruption Act.
The companies? counsel said that the petition centred on a whether a Sessions Judge can hear matters that ought to be tried by a Magistrate.
Further, the counsel pointed out that even the CBI and the Special Judge himself, had doubts on whether the Special Judge could take cognisance of the chargesheet where no offence under the Prevention of Corruption Act is alleged.
Prior to this, the investigating agency had named the promoters of both companies and other high-ranking officials in its third chargesheet.
The agency also indicted Loop Telecom Private Limited, Loop Mobile India and Essar Tele Holding in the case. If found guilty, the five individuals could face seven years imprisonment.
