The CEO of the Indian telco Loop Telecom was questioned today by the Indian Central Bureau of Investigation (CBI) as a part of the investigation into the 2G scam, according to a report in India Today.
The newspaper also reported that Sandeep Basu had…
The CEO of the Indian telco Loop Telecom was questioned today by the Indian Central Bureau of Investigation (CBI) as a part of the investigation into the 2G scam, according to a report in India Today.
The newspaper also reported that Sandeep Basu had also been questioned last Thursday, when he was confronted by the CEO of Essar Group, Prashant Ruia.
According to the newspaper, Ruia was questioned on 18 February on allegations that Essar Group worked with Loop Telecom to get licences illegally in 21 areas in January 2008.
The CBI will report to the Indian Supreme Court on 1 March.
The Times of India reported last Thursday that there had been allegations that Loop Telecom had been a front company for Essar, which also has a stake of almost 33% in the Vodafone Essar JV.
Loop Telecom did not reply to questions before the press deadline.
An Essar Group told TelecomFinance that it and Loop Telecom are independent firms. He said that Essar Group owns a stake in Loop Telecom of less than 10%.
