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BW Businessworld

Execs Seek Interim Bail To Stay Out Of Jail

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All five telecoms executives, whose bail pleas were rejected by a CBI court on Wednesday in the telecom scam trial, have appealed the court for an interim bail to avoid being jailed immediately, a CBI lawyer said.

The court will hear the officials' plea at 2 p.m. on Wednesday.

Earlier, a Delhi court dismissed the bail pleas of five corporate executives, who were named as accused by the CBI in the 2G spectrum allocation scam but were not arrested.

Former telecoms minister Andimuthu Raja, three telecoms firms and six business executives have been charged with manipulating the grant of telecoms licences and radio airwaves in 2007-08 that a state auditor said could have caused a potential revenue loss of $39 billion to the government.

"All the bail applications have been rejected," Special CBI Judge O P Saini said. With the rejection of their bail pleas, they were likely to be remanded in judicial custody.

The corporate executives are Swan Telecom Director Vinod Goenka, Unitech Wireless (Tamil Nadu) Ltd Managing Director Sanjay Chandra, and three top officials of Reliance ADA Group Gautam Doshi, Surendra Pipara and Hari Nair.

The five were not arrested during the probe into the case.

The court did not allow the bail plea of ailing Surendra Pipara even though Special Public Prosecutor U U Lalit had not opposed his application.

The court asked the corporate honchos to remain present during the proceedings on Wednesday.