2G Scam | 19 August 2011

2G Scam | 19 August 2011

Business Today

Loop Telecom, Loop Mobile on ED radar in 2G scam

Even As the CBI is probing Loop Telecom for being a beneficiary of the 2G scam allegedly perpetrated by former telecommunications minister A. Raja, the Enforcement Directorate (ED) has now slapped a show cause notice on Loop Telecom and Loop Mobile, formerly BPL, for alleged Foreign Exchange Management Act (FEMA) violations. (read story)

Hindustan Times

2G scam: Two more firms issued notice

The Enforcement Directorate (ED) has issued a show cause notice to Loop Mobile India Limited and Loop Telecom Limited, and its directors for alleged violation of the Foreign Exchange Management Act (Fema) to the tune of around around 384 crore in connection with its probe into the 2G scam. (read story)

The Indian Express

Loop Telecom fined 384 crore

The Enforcement Directorate (ED), probing the 2G spectrum scam, on Tuesday issued show-cause notices and slapped a fine of 384 crore on Loop Mobile and Loop Telecom for alleged foreign exchange violations. (read story)

ED issues showcause notices to Loop Telecom companies

The Enforcement Directorate (ED) has issued show-cause notices to telecom companies Loop Telecom and Loop Mobile for alleged violation of foreign exchange laws to the tune of 384 crore. (read story)