The agency also questioned the role of Ministry of Corporate Affairs in giving clean chit to Essar group.
Without naming the corporate house, the agency said that it had promoted the telecom company in order to get licence and 2G spectrum during the tenure of former Telecom Minister Raja.
Giving details of financial transactions which was routed through Mauritius, Senior Advocate K K Venugopal, appearing for the CBI, submitted that the money trail clearly established the involvement of the corporate house.
"Attempts were made to project that they are not connected but slowly we are finding that they are closely involved," he said, adding "Corporate guarantee was granted by the group company".
"The lady mentioned in the list is the sister of Director of the group company and is holding the telecom company along with her husband and brother. They are partners and the telecom company is owned by the three," he said without taking their names.
The investigating agency also questioned the propriety of ministry of corporate affairs as well as others to comment on the status of relationship between Loop Telecom and Essar.
"This is unwarranted when the Supreme Court is monitoring the investigations," it said.
The ministry had communicated to the Telecom Ministry that the Ruias-led group held only 2.15 per cent stake in Loop Telecom at the time of obtaining 2G licence.