CBI may close loan inquiry
The CBI is likely to close its investigations into the preliminary enquiry (PE) with regard to loans provided by public sector banks to telecom companies, who were in the race of allotment of Unified Access Services (UAS) licences, under the 2G spectrum scam probe.
The CBI has earlier registered a PE to probe the role of certain officials of the Department of Telecommunications (DoT) who allegedly signed bank loan papers of some private telecom companies. The Bank Security and Frauds Cell (BS&FC) of the CBI had registered the PE.
Sources said, “The CBI officials have not found any evidence so far. Now, the agency officials have decided not to convert the PE into a regular case”.
Earlier, there were reports that public sector banks provided more than `26,000 crore in loans to five telecom companies involved in the 2G spectrum scam. Loan applications of these companies were allegedly signed by some DoT officials.
The value of the licence shown on loan papers of certain companies was reportedly very low, sources said.
In December 2010, the Supreme Court had come down heavily on public sector banks for their role in the 2G spectrum scam.
A two-judge bench of Justices G.S. Singhvi and A.K. Ganguly had said that massive amounts were lent by some public sector banks to the 2G licences and it must be investigated.
The CBI is also probing possible criminal aspects, if any, in the allotment of spectrum licenses since 2001.
The agency has already registered a preliminary enquiry in this regard.
The CBI is likely to go into the minutes of the meetings held by former telecom ministers which included late Pramod Mahajan and Arun Shourie.
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Bail order on corporate honchos today
AGE CORRESPONDENT
NEW DELHI
May 22: After spending more than a month in the high security Tihar jail, the fate of the five corporate honchos, arrested by the CBI for their alleged involvement in the 2G spectrum scam, would be decided on Monday, with the Delhi high court likely to pronounce its order on their bail application.
After hearing extensive arguments from both the prosecution and the defence, Justice Ajit Bharihoke had reserved its orders on May 9 on the bail plea of the five accused: Unitech promoter Sanjay Chandra, Reliance ADAG MD Gautam Doshi, one of the D.B. Realty promoter Vinod Goenka, Reliance officials Hari Nair and Surendra Pipara.
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