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India Court Sets April 21 Bail Hearing in Telecom Probe Charges

March 31 (Bloomberg) -- An Indian court will consider bail applications for four company officials on April 21 as it probes charges linked to the 2008 sale of mobile-phone licenses that sparked the country’s biggest graft investigation.

Judge O.P. Saini today set the date for bail hearings for Essar Group employees Anshuman Ruia and Ravi Ruia, and Loop Telecom Ltd.’s Kiran Khaitan and her husband I.P. Khaitan. Today was the first time the four appeared in court to face the charges.

Former Telecommunications Minister Andimuthu Raja, officials and business executives are accused of conspiring to award permits to ineligible companies in the 2008 sale. Their actions might have cost the country $31 billion in revenue, according to a report by India’s chief auditor.

All of the accused have denied the charges.

To contact the reporter on this story: Andrew Macaskill in New Delhi at amacaskill@bloomberg.net

To contact the editors responsible for this story: Paul Tighe at ptighe@bloomberg.net

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