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BW Businessworld

2G: Court To Resume Bail Hearing On Wednesday

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Delhi High Court will resume hearing on Wednesday bail applications of five company executives charged in the country's largest corruption scandal, two defence lawyers said on Monday.

Sanjay Chandra, the managing director of Telenor's India partner Unitech, Vinod Goenka, a director of Etisalat's India partner, and three executives from the Reliance ADA Group have been held in jail, pending trial, after a lower court denied them bail on April 20.

The five executives are among those charged by the CBI of involvement in rigging the grant of lucrative telecoms licences and radio spectrum during 2007-08. The flawed process may have cost the state coffers as much as $39 billion in lost revenue, a state auditor had said.