The Central Bureau of Investigation (CBI) is likely to charge two members of the Essar Group?s promoter family and a senior employee with cheating and criminal conspiracy say news reports.
It is believed that the agency has concluded that Loop Telecom had been funded, controlled and managed by the Essar Group, thereby violating telecom licence conditions that prohibit mobile companies from holding more that 10 per cent stake in two operators.
If charges are filed, the agency would overrule the opinion of its legal team which had stated that such a violation is not a criminal act and similar violations in the past have not warranted penal action.
The agency has also recommended prosecuting A. Raja, former Minister of Telecommunications and IT, former Department of Telecommunications (DoT) secretary Siddharth Behura and former DoT legal advisor Santokh Singh for wrongfully allotting Loop Telecom mobile permits, despite being aware that the company was in violation of telecom guidelines.
