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2G: Witness says Khaitans had owned BPL Mobile

STATESMAN NEWS SERVICE New Delhi, 5 August A CBI witness today told a city court that the Khaitan Group was…

STATESMAN NEWS SERVICE
New Delhi, 5 August
A CBI witness today told a city court that the Khaitan Group was the ultimate holding company of BPL Mobile Communication Ltd which later became Loop Telecom Pvt Ltd, an accused firm in a case arising out of the 2G spectrum scam probe.
 A former CFO of BPL Cellular Ltd, S Subramaniam, said this to the special CBI judge, Mr O P Saini, during his cross-examination by senior advocate Harish Salve, appearing for accused firm Essar Teleholdings Ltd (ETHL).
 The statement is contrary to his earlier statement given before the court in which he had said that as per his understanding, Loop Telecom was controlled by Essar group.
 “I have been shown the balance sheet of BPL Mobile Communication Ltd as on 31 March, 2007… This balance sheet has been signed by me. I take full responsibility for this balance sheet. It is correct that in this balance sheet, I certified that ultimate holding company was Santa Trading (P) Limited,” said the witness.
 BPL Mobile Communication Ltd, which was taken over by the Khaitan group, was later renamed Loop Telecom.
 During his cross-examination by senior advocate S V Raju, who appeared for Essar Group promoter Ravi Ruia, an accused in the case, Subramaniam said prior to 16 August 2007, Shipping Stop Dot Com (India) (P) Ltd, which was later renamed as Loop Telecom, was owned by the Essar group.
 He also said that in July-August 2007, promoters of BPL Mobile Communication Ltd had decided to apply for 21 Unified Access Services licences. He, however, said he did not know who was the promoter of BPL Communications Ltd.
 Essar group promoters Ravi Ruia and Anshuman Ruia and Loop Telecom promoters I P Khaitan and Kiran Khaitan and Essar group Director (Strategy and Planning) Vikash Saraf and three firms ~ ETHL, Loop Telecom Pvt Ltd and Loop Mobile India Ltd ~ are facing trial in the case.
 ETHL and others are facing trial for the offence under Section 120B (criminal conspiracy) read with Section 420 (cheating) of IPC, while a substantial charge of cheating has been framed against Saraf.

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