CBI today told a special court that Essar Group was "effectively controlling" Loop Telecom Limited (LTL) which had "fraudulently and dishonestly" misrepresented facts before Department of Telecommunications (DoT) to acquire 2G spectrum licences.
The agency argued that the entire funding in this case was by Essar Group of companies and restructuring of firms was done to conceal the fact that the Group was controlling LTL.
"There are series of transactions which shows that before, after and...
Essar was controlling Loop Telecom Ltd, facts misrepresented before DoT: CBI
The agency argued that the entire funding in this case was by Essar Group of companies and restructuring of firms was done to conceal the fact that the Group was controlling LTL.
"There are series of transactions which shows that before, after and...
Essar was controlling Loop Telecom Ltd, facts misrepresented before DoT: CBI