2G toll: Ravi Ruia steps aside as Essar Energy chief
21 December 2011
Ravikant Ruia today stepped aside as Essar Energy chairman in the wake of charges against him and his company related to the 2G spectrum scandal.
"This decision follows allegations by the Central Bureau of Investigation that Ruia, certain other executives of the Essar Group and Essar Teleholdings Ltd - an Indian company belonging to the Essar Group - had suppressed facts relating to the extent of equity holding of Essar in Loop Telecom Ltd," a company statement said.
The development came after a special CBI court in Delhi today asked some founders and executives of the Essar Group and Loop Telecom to appear before it on 27 January.
Judge O P Saini of the special court trying the case also issued summons to Essar directors Anshuman Ruia and Vikas Saraf, as also Kiran Khaitan, sister of Ravi Ruia, and her husband Ishwari Prasad Khaitan.
The Khaitans are the founders of the Loop group, which owns Loop Telecom Pvt Ltd.
The CBI alleges that Loop was a front company set up by Essar to grab radio spectrum in contravention of rules.