The accused in the case; Sanjay Chandra, Vinod Goenka Hari Nair, Gautam Doshi and Surendra Pipara were granted bail after furnishing a surety bond of Rs 5 lakh each. They were lodged in jail for more than six months.
Gautam Doshi, Surendra Pipara and Hari Nair, Reliance executives were accused of cheating by allegedly creating a web of companies to hide the real identity of their partnership with Swan Telecom.
Goenka, charged with foregry, cheating, criminal conspiracy, and abetment of illegal gratification is accused of being a part of the conspiracy, while Unitech's Chandra is accused of being a beneficiary in the scam.
The 2G spectrum licence to Chandra's firm was given by ex-telecom minister, A Raja despite of the firm's ineligibility.
The verdict was delivered in the morning by justice HL Dattu, who heard the arguments along with CBI's submission which opposed the bail plea and said the accused could approach the trail court for their bail.