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Delhi HC Defers Decision On Bail To 5 Honchos

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The Delhi High Court deferred a decision on bail to five executives charged in the country's largest corruption scandal, two defence lawyers told reporters on Friday.

Sanjay Chandra, the managing director of Telenor's India partner Unitech, Vinod Goenka, a director of DB Realty, Etisalat's India partner, and three executives from the Reliance ADA Group will continue to be held in custody following the order from the Delhi High Court.

The court will resume hearing the arguments for and against the bail on Monday. The case has rocked the political and business establishments in Asia's third-largest economy.

A lower court had last week denied them bail after the five were charged by federal police 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.

(Reuters)