This Article is From Jan 11, 2012

Ruias, Khaitans in Dubai; CBI says they've ignored summons

Ruias, Khaitans in Dubai; CBI says they've ignored summons
New Delhi: The Ruias and the Khaitans, both named in the telecom scam, have left the country, provoking concern among the Central Bureau of Investigation (CBI) which has filed a chargesheet against them in the telecom scam. The Ruias are the promoters of Essar; Loop is promoted by Kiran Khaitan and her husband I P Khaitan. Last month, the Delhi court that's handling the telecom trial issued summons to Essar promoters Anshuman and Ravi Ruia as well as the Khaitans.

Representatives for both companies confirm the promoters are currently in Dubai, and say there is no attempt to dodge the legal proceedings against them.  

CBI sources, however, say the agency may ask for their passports to be cancelled.

The CBI alleges that in 2008, Essar used Loop as a front to buy more licences and acquire spectrum beyond what was legally permissible. Guidelines forbid a telecom from owning more than 10% stake in another operator that services the same area. In 2008, Essar had a 33% stake in Vodafone, and owned a substantial chunk of Loop, says the CBI.

Though the CBI accused the Ruias and Khaitans of criminal conspiracy and cheating, it did not charge their executives, or any public servants, under the Prevention of Corruption Act.

A statement from Loop shares, "Mr & Mrs I.P Khaitan are Non Resident Indians. Their residential address in Dubai has been provided to CBI. Any summon is required to be served at the place where they are residing hence media reports suggesting that they are avoiding summons are completely incorrect and baseless. Loop and Khaitan's have at all stages cooperated with the authorities and continue to do so."

Sources in Essar say that Anshuman and Ravi Ruia are on a business trip to Dubai. Because the brothers are NRIs, company representatives say any notices from the CBI should be sent to their Dubai residence.
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