Sixty-three persons under scanner in 2G spectrum case

Sixty-three persons under scanner in 2G spectrum case

On Tuesday, the CBI has informed that total sixty three persons are under its scanner in the 2G spectrum case. The list includes promoters and CEOs of 10 telecom firms. CBI has told this to the Supreme Court and the top court has expressed its satisfaction in the way investigation went on for last few days. Senior advocate K K Venugopal who is now representing the CBI for the case has reported all the proceedings of the case to the Supreme Court.

The central government has also informed the bench of justices G S Singhvi and A K Ganguly to establish a special court for this purpose. Central government is also party to the 2G spectrum case. As per the government, setting up a special court to this case will help the CBI to carry on the trial process more effectively.

All the accused can be tried in this special court.

The law minister has also written a letter to the Delhi high court chief justice for this purpose. He has asked the Delhi high court to constitute a court for the case and also provide a judge for this trial.


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Former Goldman board director Rajat Gupta seeks re-trial over insider trading case

Former Goldman board director Rajat Gupta seeks re-trial over insider trading ca

Rajat Gupta, former board of director at Goldman Sachs Group, has sought re-trial over the insider trading case in which he was handed down a two-year prison term along with a $5 million fine.

On Tuesday, Gupta's lawyer Seth Waxman questioned the authenticity of the wiretap evidence that was accepted by US District Court Judge Jed Rakoff to penalize Gupta in October last year.

Essar Oil to sign loan deal with CDB

Essar Oil to sign loan deal with CDB

India's second largest private refiner, Essar Oil Ltd is expected to sign a Memorandum of Understanding (MoU) with officials of the China Development Bank (CDB) for up to $ 1 billion loan deal backed by supply of refined products to state-run, PetroChina.

The agreement is expected to be signed on Tuesday when the Chinese Prime Minister Li Keqiang visits Mumbai. The loan is expected to be backed by refined products from Essar's Vadinar refinery in Gujarat. The deal is a type of export advance to reduce debt by the company.