2G spectrum scam accused Loop Telecom has moved a special CBI court seeking compounding of its charges and settlement of the case through an alternative dispute resolution mechanism.
Loop is the first among the other accused in the 2G scam to have approached the trial court to settle the case. It has been named in the charge sheet under section 420 (cheating) and 120B (criminal conspiracy) of the IPC. The firm was allegedly ineligible for grant of 21 UAS licenses and had induced the Centre into granting the license to it.
The move to seek compounding of the charges comes after the Supreme Court in July had rejected Loop?s appeal seeking shifting of trial against it and its promoters from the special CBI court to magistrate?s court on the ground that there were no corruption charges against them.
Stating that the offences alleged against them are compoundable and it has an excellent case for an acquittal, the telecom firm said that the matter should be referred to Lok Adalat. Special CBI Judge OP Saini has sought replies from the CBI and the department of telecommunication on the matter and fixed further hearing on February 20.
According to the company, ?Since all the accused have to attend the court regularly, they are unable to concentrate on their businesses… The ongoing proceedings have caused hardship and prejudice to each of the applicant?s personally to their reputation and their business interests. Thus, the applicant has decided that it would be in the larger interests ? to compound the offence, despite the fact that the applicant strongly believes that it is innocent.?
Loop further stated that it had paid R1,454 crore to DoT as license fees, as per the then prevailing policy. ?…it is not even the case of the prosecution that any monetary/financial loss has been caused to the UoI, at the time of the commission of the alleged offence. There was no intent of the accused to cause any wrongful loss or make any wrongful gain.?
The company said that they were ready to comply with all reasonable terms for compounding and that this move was not an admission of guilt. ?It is fair and reasonable on its part to file the present application seeking reference of the present matter to Lok Adalat even at the present stage of the trial,? the application stated.
Loop was one of the companies whose licences for 2G spectrum were quashed by the SC?s February 2, 2012, judgment. Following the quashing of its licences, the company had discontinued its services by proceeding to shut its operations after duly porting out all its subscribers and had preferred not to go for the fresh auction.