1. Combine first 7 ingredients in a medium saucepan over medium heat; bring to a simmer. Cover and cook 40 minutes or until beans are tender. Discard basil sprig. Reserve 1/4 cup beans; set aside.
2. Place remaining bean mixture in a blender; add juice. Remove center piece of blender lid (to allow steam to escape); secure blender lid on blender. Place a clean towel over opening in blender lid (to avoid splatters). Blend until smooth. Cool slightly; refrigerate 2 hours or until chilled.
3. Heat a small nonstick skillet over medium-high heat. Add corn; sauté 2 minutes or until browned. Combine reserved 1/4 cup beans, corn, red pepper, chopped basil, and oil in a small bowl. Divide soup evenly among 8 bowls; top with corn mixture.