S Subramaniam, a former CFO of BPL Cellular Ltd, told a Delhi court during his cross examination by senior advocate Harish Salve, who appeared for accused firm Essar Teleholdings Ltd (ETHL).
This is contrary to his earlier statement given before the court in which he had said that as per his "understanding", Loop Telecom was controlled by Essar group.
"I have been shown the balance sheet of BPL Mobile Communication Ltd as on March 31, 2007...This balance sheet has been signed by me. I take full responsibility for this balance sheet. It is correct that in this balance sheet, I certified that ultimate holding company was Santa Trading (P) Limited," he told Special CBI Judge O P Saini.
During his cross examination by senior advocate S V Raju, who appeared for Essar Group promoter Ravi Ruia, an accused in the case, Subramaniam said prior to August 16, 2007, Shipping Stop Dot Com (India)(P)Ltd, which was later renamed as Loop Telecom, was owned by the Essar group.
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He also said that in July-August 2007, promoters of BPL Mobile Communication Ltd had decided to apply for 21 Unified Access Services licences. He, however, said he did not know as to who was the promoter of BPL Communications Ltd.
ETHL and others are facing trial for the offence under Section 120B (criminal conspiracy) read with Section 420 (cheating) of IPC, while a substantial charge of cheating has been framed against Saraf.