SC grants bail to 2G accused corporates

New Delhi, Nov 22 (IBNS) The Supreme Court on Wednesday granted bail to five top telecoms execs, who were in jail for over seven months for their alleged involvement in 2G spectrum scandal.

The verdict was delivered by Justice H L Dattu who had heard their arguments along with Central Bureau of Investigation (CBI) submission which opposed the bail plea for Unitech Wireless´ MD Sanjay Chandra, Swan Telecom´s Director Vinod Goenka and Reliance Anil Dhirubhai Ambani group´s executives Hari Nair, Gautam Doshi and Surrendra Pipara.

On Nov 1, the apex court had reserved its verdict on their bail pleas but appeared to question CBI's stand on keeping the telecom exes in prison.

"When you are sure they will not tamper with evidence why keep them behind bars?" the apex court had asked CBI sleuths.

"When you do not want them for further investigations why keep them in jail?" asked the Supreme Court.

The CBI had named the five corporates along with former telecoms minister A Raja, his personal aide RK Chandolia, former telecoms secretary Siddhartha Behura, and Swan Telecom promoter Shahid Balwa in its 80,000-page chargesheet.

In perhaps the biggest scam in Independent India, allegedly masterminded by ex-minister A Raja, telecoms spectrum was given away at throwaway prices in 2008 causing a potential revenue loss of up to Rs 1.76 lakh crore.