Supreme Court grants bail to five executives in 2G scam
23 Nov 2011
Supreme Court today granted bail to five executives of companies charged in the 2G spectrum scam on two sureties of Rs 5 lakh each.
Real estate major Unitech's managing director Sanjay Chandra, Etisalat DB Telecom promoter Vinod Goenka and Reliance ADAG officials Gautam Doshi, Hari Nair and Surendra Pipara were granted bail by the apex court.
They had been lodged in Tihar jail for the past six months.
Following the news of the bail order, DB Realty shares rose 20 per cent, Unitech by 7 per cent and Reliance Communications jumped 4.4 per cent.
The 30-index BSE Sensex which was weak during the day, fell 3 per cent, its lowest in the past two years.
Etisalat owns 44.73 per cent of Etisalat DB (formerly Swan Telecom), while Majestic, a company controlled by Shahid Balwa and Vinod Goenka, owns 45.73 per cent.
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