Special CBI Judge O P Saini fixed the matter for orders after hearing the arguments advanced by Loop Telecom, CBI and the Department of Telecommunication (DoT) on the issue.
During the arguments, CBI said they were opposing the plea filed by Loop Telecom but the probe agency would abide by the order passed by the court.
"CBI is a party in the case. We will abide by court order. We are opposing the plea," senior public prosecutor K K Goel said.
"So far as these proceedings are concerned, the DoT is not a party... The DoT will abide by any order passed by the court," he said.
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Senior advocate Mukul Rohatgi, appearing for Loop Telecom Ltd (LTL), argued the company was facing trial for the alleged offence under section 420 (cheating) read with 120-B (criminal conspiracy) and these offences are compoundable.
"If the DoT does not have a serious objection and they leave the matter to the court, then an attempt should be made and if it is settled it is fine otherwise it will come up before the court again," he said.
The plea was filed after LTL, charge sheeted by CBI along with promoters of Essar Group and Loop Telecom, had approached the court for an appropriate direction to the Centre for compounding the case in Lok Adalat.
Lok Adalat is an alternative dispute resolution mechanism by which the parties involved in civil and compoundable criminal cases try to arrive at a compromise to settle their case. If the concerned parties do not arrive at a compromise, the matter is remanded back to the court for disposal.