The Central Bureau of Investigation (CBI) has filed charges against India's top mobile phone carrier, Bharti Airtel, as part of a broader case involving alleged irregularities in airwave allocations.
Vodafone India, Hutchison Max & Sterling Cellular and former Telecom Secretary CBI Shyamal Ghosh have also been accused of criminal conspiracy and face charges under the Prevention of Corruption Act. Mr Ghosh has been charged with misusing his office to confer additional spectrum in sweetheart deals to telecom giants . The CBI sys the country lost nearly 846 crores as a result.
The charge sheet filed in a Delhi court today does not mention any executives.
Bharti has previously said it had complied with all rules. Bharti shares were down 2.2 per cent as of 1.56 p.m., underperforming the 0.8 per cent decline in the broader Nifty.
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Vodafone India, Hutchison Max & Sterling Cellular and former Telecom Secretary CBI Shyamal Ghosh have also been accused of criminal conspiracy and face charges under the Prevention of Corruption Act. Mr Ghosh has been charged with misusing his office to confer additional spectrum in sweetheart deals to telecom giants . The CBI sys the country lost nearly 846 crores as a result.
The charge sheet filed in a Delhi court today does not mention any executives.
Bharti has previously said it had complied with all rules. Bharti shares were down 2.2 per cent as of 1.56 p.m., underperforming the 0.8 per cent decline in the broader Nifty.
Read More . . . . .