The Delhi High Court on Monday reserved orders on the bail applications of five top executives of private companies facing prosecution in the 2G spectrum allocation scam.
Justice Ajit Bharihoke reserved the orders after hearing counsel for the accused and the Special Public Prosecutor.
The accused had sought bail, mainly on the grounds of the futility of keeping them in judicial custody as the investigating agency had charge-sheeted them after the completion of the probe into the charges against them.
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Their counsel submitted that the accused had cooperated with the investigating agency as and when they were summoned.
Further, they had played no role in the devising of the mechanism for the allotment of 2G spectrum, so they could not be charged with conspiracy to cause a loss to the exchequer and make gains for themselves.
Opposing the bail applications, Special Public Prosecutor U.U. Lalit said there was an apprehension that the accused would try to win over witnesses and tamper with the evidence if they were released on bail.
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The accused had conspired with the then Communications Minister, A. Raja, and got the 2G spectrum allotted to their companies at a very low prices by manipulating the first come, first served policy.
The five executives — Unitech Managing Director Sanjay Chandra, DB Realty Managing Director Vinod Goenka and Reliance ADA Group officials Gautam Doshi, Surendra Pipara and Hari Nair — had approached the High Court last month for an urgent hearing of their bail applications after their pleas were rejected by the special court for the 2G spectrum allocation case.
The designated court had said: “The charges against them are of the highest magnitude and gravity.”
But the High Court rejected their request and heard the pleas on a routine basis.