India Supreme Court Grants Bail To 5 Executives In Telecom Case
November 23 2011 - 12:55AM
Dow Jones News
India's Supreme Court Wednesday granted bail to five executives
of three companies in a high-profile case related to alleged
rigging of telecommunication license and bandwidth sales in
2008.
The five executives, who were arrested in April, are Reliance
Telecom Ltd. Managing Director Gautam Doshi, senior Vice Presidents
Hari Nair and Surender Pipara; Swan Telecom Pvt. Ltd. Director
Vinod Goenka and Unitech Wireless Ltd. Director Sanjay Chandra.
Chandra is also managing director of Unitech Ltd. (507878.BY),
while Goenka is managing director of DB Realty Ltd.
(533160.BY).
These five executives were among 14 people arrested by the
Central Bureau of Investigation in this case.
Former Telecommunications Minister Andimuthu Raja and two of his
former aides are among those arrested. They are still in jail.
According to the probe agency, Reliance Telecom, Swan and
Unitech Wireless benefited from the alleged rigging.
-By R.Jai Krishna, Dow Jones Newswires, +91.11.4356.3333;
krishna.jai@dowjones.com
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