Probe into Essar, Swan to be over by August 31: CBI

New Delhi, Jul 6 (PTI) The crossholding of shares of
Essar in the Loop Telecom was again in focus with Central
Bureau of Investigation(CBI) terming as "unfortunate" the
letter issued by the Corporate Affairs Ministry claiming that
the oil major had less than 10 per cent stakes in the telecom
venture.
Assuring that the probe will be wound up by August 31,
the CBI informed Supreme Court about the documents it had
procured from Mauritius that gave shareholding details of the
companies which were allegedly used in transferring of funds.
The CBI claimed that it had documents to show that the
oil company had more than 10 per cent shares in the Loop
Telecom but the recent letter from the MCA had said that Essar
had only less than three per cent shares.
It was "unfortunate" especially at a time when the court
was monitoring the case, agency sources said.
They said a fresh round of questioning of the company
officials would be carried out. Sources alleged that the
corporate house was engaged in diversionary tactics by
flooding the various wings of the Government with legal
opinions.