2G scam: Two more firms issued notice

The Enforcement Directorate (ED) has issued a show cause notice to Loop Mobile India Limited and Loop Telecom Limited, and its directors for alleged violation of the Foreign Exchange Management Act (Fema) to the tune of around around Rs 384 crore in connection with its probe into the 2G scam.

The Enforcement Directorate (ED) has issued a show cause notice to Loop Mobile India Limited and Loop Telecom Limited, and its directors for alleged violation of the Foreign Exchange Management Act (Fema) to the tune of around around Rs 384 crore in connection with its probe into the 2G scam.

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The ED is also likely to initiate proceedings under the prevention of money laundering act (PMLA) against Dynamix Realty for allegedly paying a bribe of Rs 200 crore to Kalaignar TV shortly.

Loop Telecom holds unified access services (UAS) telecom licences for 21 circles.

ED assistant director Rajeshwar Singh had filed two complaints in this regard before special director Balesh Kumar, who is the adjudicating authority in the matter. Under Fema, the adjudicating officer can impose a penalty on the offender company and its directors three time of the amount for which the show-cause notice is issued.

Earlier, the ED had issued show cause notice to another 2G scam tainted telecom firm — Etisalat DB and its directors.