Loop Telecom moved the Telecom Disputes Settlement & Appellate Tribunal (TDSAT) on Tuesday for compensation for its cancelled 2G licence. ...
07:22 PM, May 29, 2012
New Delhi: Loop Telecom on Tuesday took the government and TRAI before the sector's tribunal TDSAT seeking refund of Rs 1,454 crore paid for 2G licence and sought Rs 1,000 crore damages for loss of reputation after its cancellation. In its petition, Loop Telecom has submitted that the Supreme Court has cancelled the UASL license issued to it by the government under its "flip flop' first-come-first-serve policy and it had...
06:09 PM, May 29, 2012
New Delhi: Essar promoters Ravi and Anshuman Ruia, and Loop Telecom's Kiran Khaitan and IP Khaitan have been charged with conspiracy while Essar's Director for Strategy and Planning Vikash Saraf has been charged with cheating and conspiracy in the 2G spectrum allocation scam. The Special Central Bureau of Investigation (CBI) court also granted them bail on a surety bond of Rs 5 lakh each while charging them. Advancing arguments on...
04:22 PM, May 25, 2012
New Delhi: A Delhi Court will pronounce its order on Friday on farming of charges against Essar group and Loop Telecom promoters for allegedly committing offences of cheating and criminal conspiracy for obtaining the 2G spectrum licences from government. "Put up for order on May 25. All the five accused person shall remain present in the court in person (on May 25)," Special CBI Judge OP Saini said after the...
11:53 AM, May 25, 2012
New Delhi: A special Central Bureau of Investigation (CBI) court on Saturday said arguments on the framing of charges against some top corporate honchos from Loop Telecom and Essar Group will commence May 3. Special CBI Judge OP Saini put, for May 3, the arguments on framing of charges and bail application of Ravi Essar Group promoters Ravi Ruia and Anshuman Ruia, Loop Telecom promoters IP Khaitan and Kiran Khaitan...
07:32 PM, Apr 21, 2012
Mumbai: Loop Telecom will close down its operations after losing its licenses in the wake of an alleged multi-billion dollar corruption scandal, a company spokesman said, while its sister company Loop Mobile would continue operations in Mumbai. Supreme Court in February ordered cancellation of 122 telecom licences held by eight operators, including that of Loop Telecom, because of alleged irregularities in the 2G spectrum allocation in 2008. A state auditor...
12:36 PM, Apr 10, 2012
New Delhi: A delegation of industry chamber Assocham, led by its newly-elected president Rajkumar Dhoot along with DLF chief KP Singh, will meet the Prime Minister on Tuesday over the impact of Supreme Court judgement cancelling 2G licences. "The meeting with the Prime Minister will cover issues related to the industry overall and in particular the development after the Supreme Court cancelling 122 2G licences," a source said. Swati Piramal...
11:43 PM, Mar 05, 2012
New Delhi: The promoters of Loop Telecom and Essar Group failed to appear in court yet again on Wednesday. Promoters I P Khaitan and Kiran Khaitan were granted exemption from personal appearance by a Delhi court, which had summoned them as accused in the 2G case. "Exemption applications of four accused (Ruias and Khaitans) are allowed for today only," Special CBI Judge O P Saini said after taking note of...
10:27 AM, Feb 22, 2012
New Delhi: The promoters of Loop Telecom and Essar Group have been summoned to appear before the 2G court in Delhi on Wednesday. This comes a week after the Supreme Court refused to grant interim stay on the summonses issued against them and their officials by a special CBI court to appear before it on February 22 for their alleged involvement in a 2G spectrum scam offshot case. Fresh summonses...
08:19 AM, Feb 22, 2012
New Delhi: Dealing a major blow to the Congress-led United Progressive Alliance (UPA) Government the Supreme Court on Thursday cancelled all 122 telecom licences allotted under the 2G spectrum on or after January 10, 2008. All additional spectrum given to incumbents on or after January 10, 2008 have also been cancelled. Following is the full text of the Supreme Court on 2G spectrum scam: IN THE SUPREME COURT OF INDIA...
03:47 PM, Feb 02, 2012
New Delhi: The Supreme Court on Thursday cancelled all 122 telecom licences allotted under the 2G spectrum on or after January 10, 2008. While cancelling the licences the Supreme Court ruled that 85 out of the 122 licences were outside the eligibility criteria for allocation. The apex court said that the 122 licences for 2G spectrum were granted in an arbitrary and unconstitutional manner. Here are the details of the...
12:52 PM, Feb 02, 2012
New Delhi: Dealing a major blow to the Congress-led United Progressive Alliance (UPA) Government the Supreme Court on Thursday cancelled all 122 telecom licences allotted under the 2G spectrum on or after January 10, 2008. All additional spectrum given to incumbents on or after January 10, 2008 have also been cancelled. While cancelling the licences the Supreme Court ruled that 85 out of the 122 licences were outside the eligibility...
11:02 AM, Feb 02, 2012
New Delhi: Fresh summons have been issued to top executives of Essar and Loop Telecom, accused in the 2G spectrum scam case, after they didn't appear before a Delhi court on Friday. The CBI has chargesheeted the two companies and five executives for criminal conspiracy and cheating to get the 2G license. The five executives - Essar Promoter Director Anshuman Ruia, Essar Vice Chairman Ravi Ruia, Essar Group Director (Strategy...
03:57 PM, Jan 27, 2012
New Delhi: Top executives of Essar and Loop Telecom accused in the 2G spectrum allocation scam failed to appear before a Delhi court on Friday. The five executives - Essar Promoter Director Anshuman Ruia, Essar Vice Chairman Ravi Ruia, Essar Group Director (Strategy & Planning) Vikas Saraf, Loop Telecom's Kiran Khaitan and IP Khaitan - were issued summoned by the special Central Bureau of India (CBI) judge OP Saini in...
12:03 PM, Jan 27, 2012
New Delhi: The Delhi High Court will hear final arguments by Loop Telecom and Essar Telecom in the 2G spectrum scam case on Tuesday. Loop and Essar had earlier filed a petition asking if their case was to be heard by a magistrate court or a special CBI court. A special CBI court had accepted CBI's chargesheet against Essar Group and Loop Telecom in the 2G spectrum scam case and...
09:19 AM, Jan 24, 2012
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.
Disclaimer: Network18 Media & Investments Limited is proposing, subject to market conditions and other considerations, an offer of its equity shares on rights basis and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the websites of the Lead Managers at www.icicisecurities.com and www.rbs.in Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.
Disclaimer: TV18 Broadcast Limited is proposing, subject to market conditions and other considerations, an offer of its equity shares on rights basis and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the websites of the Lead Managers at www.icicisecurities.com and www.rbs.in Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.
