The Supreme Court of India has grated bail to all corporates accused in 2G scam case. Each corporate will file two sureties of Rs 5 lakh each. The corporates include Unitech 's Sanjay Chandra, Swan Telecom's Vinod Goenka and Reliance ADAG's Gautam Doshi, Hari Nair, Surendra Pipara.
Shahid Balwa has not got bail as the trail was not scheduled today.
This is the first set of bail granted in the telecom spectrum scam.
The Reliance executives are accused of cheating as part of an alleged conspiracy. They allegedly created a web of companies through subterfuge in order to conceal the real identity of the holding hands of Swan telecom.
Goenka is accused of being a part of this larger conspiracy whereas Unitech's Chandra is accused of being a beneficiary in the scam.
Chandra's firm was given the 2G spectrum licence by former Telecom Minister A Raja despite its ineligibility and that his company was tipped-off about the proponing of cut-off dates for applying for the 2G licence.
The CBI also alleged that after getting the licences, Unitech and co-accused Swan Telecom had sold their equity to foreign companies much before beginning to roll out of their services, thereby making huge profits.
The CBI is also expected to give its reply to a special court in response to the notice on another accused Shahid Balwa's plea.
Defenses by the accused in the Supreme Court are - no prima-facie case, no documents to suggest cheating or forgery against them. Even if a prima facie case exists, bail is the rule and denial of it is an exception.
Accused have no criminal past and had all along cooperated with the CBI during the investigation in the case.
Investigation in the case is over, chargesheets have been filed against the accused and they are no longer needed for further investigation hence they should be released on bail.
The CBI on the other hand says that, the accused are influential persons and if released on bail they could tamper with the evidence and that the offence committed by the accused is very grave.
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