While the Ministry has stuck to its view that according to its records Ruia's-led oil major was not an associate in the telecom venture, the CBI, which is likely to file a chargesheet against Loop and Swan by the end of next month in 2G spectrum scam case, claims it has evidence to show Loop was a front for Essar.
The Ministry of Corporate Affairs had informed the Department of Telecom (DoT) that Essar's cross-holding shares were at 2.15 per cent and not above 10 per cent as alleged by CBI.
While sources claimed CBI had evidence to show that Loop acted as front for Essar while acquiring telecom licences, senior agency officials favoured taking an opinion from the Law Ministry in the wake of the MCA opinion.
CBI has also involved an official of the Ministry in its probe of the telecom spectrum scam.
The sources said the probe of MCA and CBI are in totally different directions and are based on completely different sets of documents and records.
Sources said the picture of the relations between Loop and Essar may be revealed in the next charge sheet of CBI which is likely to be filed by the end of next month.
The agency has received about 600 pages of documents from Mauritius in reply of its Letter Rogatory which include some crucial information about Loop's ownership which will be used in bringing out the association between the two companies, they said.
CBI has claimed that it has documents to show that the oil company had more than 10 per cent shares in Loop Telecom but the recent letter from MCA had said Essar had only less than three per cent shares.
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