2G scam: Loop CEO questioned by CBI
CBI is investigating whether Loop acted as a front for Essar group in getting telecom licences in alleged violation of rules, an allegation refuted by Essar group.
New Delhi: As CBI prepares its third set
of charges in telecom spectrum allocation scam, the agency
on Friday questioned Loop Telecom CEO Sandip Basu in connection
with the ownership and shareholding pattern of the company.
Basu, who arrived here in the morning, was questioned
on shareholding patterns and its alleged financial dealings
with Essar group.
CBI is investigating whether Loop acted as a front for
Essar group in getting telecom licences in alleged violation
of rules, an allegation refuted by Essar group.
The agency has sent Letters Rogatory to Mauritius
seeking details of ownership patterns of Loop Telecom which
had got telecom licences in 22 circles, despite being
ineligible for the same as pointed out by Comptroller
and Auditor General in its report.
The CAG in its report has said that the Loop Telecom
was not eligible for grant of Unified Access Service licence
on the day they submitted their application which is September
"The company had changed the main object clauses in
their MOA/AOA so as to include the telecom sector in their
MOA/AOA but these alterations were registered by the ROC on 28
September 2007 only. Thus they were also not eligible for
grant of UAS licence on the date of submission of their
application in September 2007," it said.