Loop Telecom Ltd plea for settlement: Court order on Mar 27
Mar 22 2014 , New Delhi
Special CBI Judge O P Saini, who was scheduled to pass the order today, deferred it for March 27 saying it was not prepared yet.
"Order not ready. Put up for order on March 27," the judge said.
The court had fixed the matter for orders after hearing the arguments advanced by Loop Telecom, CBI and the Department of Telecommunication (DoT) on the issue.
During the arguments, CBI had said they were opposing the plea filed by Loop Telecom but the probe agency would abide by the order passed by the court. The DoT too had said that the department was not a party to the case and they would abide by the court order.
Loop Telecom Ltd (LTL) had argued that the company was facing trial for the alleged offence under section 420 (cheating) read with 120-B (criminal conspiracy) and these offences are compoundable.
The plea was filed after LTL, charge sheeted by CBI along with promoters of Essar Group and Loop Telecom, had approached the court for an appropriate direction to the Centre for compounding the case in Lok Adalat. Lok Adalat is an alternative dispute resolution mechanism by which the parties involved in civil and compoundable criminal cases try to arrive at a compromise to settle their case.
If the concerned parties do not arrive at a compromise, the matter is remanded back to the court for disposal.