'Loop Tele not an Essar front'

NEW DELHI: Loop Telecom promoters, IP Khaitan and Kiran Khaitan sought bail from a Delhi court and added that Khaitan's was not a 'benami' company of Essar Group, as was being alleged by the probe agency.

Arguing for the Khaitans on Thursday against charges levied by the Central Bureau of Investigation, their legal counsel Parag Tripathi, told the CBI Special Court that all loan transactions were recorded and audited, therefore the question of them being 'benami' did not arise.

Pressing for bail for the Khaitans, the lawyer added that they had co-operated with the probe agency and appeared for the hearing everyday despite summons not being served properly. He added that IP Khaitan had a complex medical history while Kiran Khaitan was essentially a homemaker.

On Friday, the probe agency will present its counter arguments.