"The basic case of the prosecution (CBI) is that they (accused) have violated clause 8 of the UASL guidelines and false and dishonest impression (made by them) is the crux of the matter," Special public prosecutor U U Lalit told designated CBI Judge O P Saini.
Lalit was making submissions on the framing of charges against Essar group promoters Ravi Ruia and Anshuman Ruia and Loop Telecom promoters I P Khaitan and Kiran Khaitan and Essar Group Director (Strategy and Planning) Vikash Saraf.
The case against them has arisen out of the probe in the 2G spectrum allocation scam.
He said that as per clause 8 of the UASL guidelines, "No single company or legal person, either directly or through its associates, shall have 10 per cent or more equity holding in more than one licensee company in the same service area for the same service."
Lalit said the UASL guidelines were designed with a view to have fair competition in telecom sector but they violated its conditions with "fraudulent and false means".
"The case of the prosecution is that clause 8 of the UASL guidelines was designed for fair competition and to get rid of the cartelization. This clause has been violated deliberately by making false and dishonest impression," he said. PTI SKV ABA RKS
VSC
