2G: HC reserves order on corporate leaders bail

New Delhi: The Delhi High Court on Monday reserved its order on bail pleas of five corporate executives who were arrested for their roles in 2G spectrum allocation scam allegedly involving former Telecom Minister A Raja and

Tamil Nadu Chief Minister M Karunanidhi's MP daughter Kanimozhi.

Justice Ajit Bharihoke reserved his order on the pleas after CBI's Special Public Prosecutor U U Lalit, along with counsel for various corporate honchos, concluded their arguments.

Opposing the corporate executives' bail pleas, Lalit submitted the corporate bodies and individuals were direct beneficiaries of the entire spectrum deal and they were involved in a conspiracy along with Raja to obtain benefit

from the grant of spectrum licences.

He said the former minister had advanced the cut-off date for submitting application for spectrum allocation and also altered the licencing policy to favour Swan Telecom and Unitech Ltd.

Lalit also pointed out that some firms were floated only to transfer the money that changed hands following grant of spectrum licences to beneficiary telecom firms and they were closed once their purposes were served.

The corporates were part of a conspiracy where huge amount of money was transacted, said Lalit adding they had also forged some documents to obtain spectrum in their favour, he said.

Lalit said CBI has filed the second chargesheet and they should not be given bail at this juncture.

Unitech Limited's Managing Director Sanjay Chandra, Swan Telecom Director Vinod Goenka, besides three senior executives of Reliance ADA group, including its Managing Director Gautam Doshi, President Hari Nair and Senior Vice President Surendra Pipara are in Tihar Jail since April 20.

They were arrested after a special CBI court, set up to try the 2G scam case dismissed their bail pleas made soon after responding to the court summons.

Appearing for Sanjay Chandra, noted criminal lawyer Ram Jethmalani had sought bail for him saying there was no chance of his client either absconding or hindering trial.

"Let us assume there is some evidence against me but that is not a sufficient reason for refusal of bail. The evidence should be so overwhelming as to believe that the accused may abscond and frustrate the trial."