Essar Group on Monday refuted the naming of its top functionaries by the Central Bureau of Investigation (CBI) in its fresh charge sheet in the 2G scam and stated that there were “no charges of corruption or involvement” against the company.
“We would like to reiterate that Essar has complied with all conditions of Clause 8 under UASL guidelines [dealing with cross-holding] in totality and all the facts which have been given at the time of submitting the application for telecom licence, which is shareholding/ownership, have been independently verified by the government agencies,” Essar Group said in a statement.
“Essar has always maintained that it held only 2.15 per cent in Loop during the time of the application and therefore there is no violation of Clause 8,” it said.
Stating that it would take legal recourse in this regard, the Essar Group also pointed out that despite the Ministry of Corporate Affairs and the Ministry of Law and Justice having confirmed that there was no Clause 8 violation, the CBI has proceeded with the charge sheet. “The CBI and the Attorney-General have gone contrary to the opinion given by the Ministry of Law and Justice and the Ministry of Corporate Affairs. The CBI has also gone against their internal legal advice,” it claimed.
In its third charge sheet, the CBI has named Essar Group promoters Anshuman and Ravi Ruia and has alleged that Essar used Loop Telecom as a “front” to get 2G licenses along with spectrum in 2008.