May 20, 2014
Khaitan said there was a possibility that some of the prosecution witnesses had deposed against him during the trial under influence from rival firms, deposing before the court.
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Khaitan said there was a possibility that some of the prosecution witnesses had deposed against him during the trial under influence from rival firms, deposing before the court.
#2G spectrum scam: #Loop Telecom seeks out of court settlement with government
The Ruias of Essar Group and their relatives, the Khaitans, promoters of Loop Telecom, who have been charged with fraud and conspiracy by the country's top investigating agency, have sought to reach a compromise with the government to end a criminal trial in which they are embroiled. The company's CEO, Sandip Basu, wrote to Telecom Minister Kapil Sibal on December 12, requesting him to consider compounding the alleged offence so as to avoid unnecessary litigation while adding that the charges it faced were "essentially of a civil flavour and had no element of public interest attached to them". He suggested that the law ministry's view on the proposal be sought. Loop said the ongoing criminal proceedings were causing "great damage to its reputation and businesses", and it therefore wanted to "compound the alleged offences and put an end to these proceedings".
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