CBI may soon file a charge sheet against some officials of Loop Telecom and Department of Telecom for alleged misrepresentation of facts about the cross-holding of shares by oil major Essar in the telecom venture in the grant of 2G spectrum allocation case.
Both the companies -- Essar and Loop Telecom -- have denied any wrong doing in the case and the stand of the two companies was supported by the Corporate Affairs and Law Ministries. The agency today reviewed the opinion of Attorney General G E Vahanvati sought over the investigations carried out by the CBI after the Law Ministry had opined that the agency should not go in for any charge sheet in this case. Vahanvati is understood to have sided with the CBI probe which has favoured charge sheet in the case against some of the officials of the private sector and DoT for alleged cheating only, official sources said.
It is understood that the Attorney General has agreed that the promoters can be prosecuted for conspiracy to obtain telecom licenses by violating guidelines, sources said. The agency has claimed Essar had more than 10 per cent of cross-holdings in Loop Telecom, which was against norms. CBI's charge is, however, denied by both Essar and Loop. Essar has maintained it had adhered to rules and complied with telecom guidelines.