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Loop saysCBI chargesbaselessTHE defence counsel for LoopTelecom told a special courthearing the 2G case on Thursdaythat the Central Bureauof investigation (CBI) wasmistaken in alleging that theEssar Group had given themmoney through benamitransactions.The counsel forLoop, accused of being set upas a front company for Essar,said that all the funds transferredbetween the firmswere above-board and hadbeen duly audited.Senior advocate Parag Inpathi,representing Loop andits promoters I.P. Khaitanand Kiran Khaitan, said, "TheCBI charge sheet, taken onits face value, does not disclosethe element of deceptionthat is benami. Therecannot be cheating withoutmens rea (criminal intention).Both Essar and Loophave fully disclosed thetransactions so it rules outany mens rea."Mail Today Bureau
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