OREANDA-NEWS. December 19, 2011. Essar has always maintained that it is fully compliant with all the UASL licence provisions. The alleged charges filed by the CBI relate to a violation of clause 8 of the UASL guidelines. These are ill conceived and only made possible by CBI ignoring crucial facts made available to it. The CBI has also disregarded the views of the Government of India. Essar has consistently maintained that its shareholding in Loop has always been less than 10 percent since the acquisition of BPL Mobile by the Khaitan group in 2005. Essar's position has been validated at every stage by various arms of the government.

Essar is surprised that clause 8 violations by other companies, in the past, have never attracted any such charges by, the CBI, or the Department  of Telecommunication.

Essar has been facing a trial by media for the past several months during the investigation and has not yet had any opportunity to defend itself and establish that it has done no wrong.  Essar has full faith in the judiciary and will take all possible steps available to it in law to protect its reputation.