The investigation by the Indian authorities into alleged malpractice regarding the allocation of telecoms licences and mobile phone spectrum space in 2008 has prompted Ravi Ruia to temporarily give up the post of Chairman of Essar Energy.
The India-focused integrated energy company said Ruia would continue as a director of Essar while the investigation by India's Central Bureau of Investigation (CBI) proceeds. Prashant Ruia, currently Vice Chairman of Essar Energy, will take over as Chairman on an interim basis.
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