Arrested by CBI in 2G scam probe
In relation with 2G spectrum scam Central Bureau of Investigation (CBI) arrested
Asif Balwa, the brother of DB Realty's promoter Shahid Usman Balwa, and Rajiv Agarwal
Asif Balwa and Rajiv Agarwal are associated with Kusegaon Fruits and Vegetables Pvt Ltd, which reportedly loaned Cineyug a sum of Rs 212 crore.
The Enforcement Directorate submitted its status report on the 2G scam case before the Supreme Court and told the court that telecom companies which were granted 2G licenses entered into benami transactions while bringing in foreign money.
The ED said Telestat had received Rs 106.95 crores as FDI and one share was allotted against this sum.
The directorate added that another company, Unitech, has control of over 353 sister firms of which 32 are based in India and that these need to be investigated.
DB Realty was owned by Shahid Balwa who has a stake in Swan Telecom which is one of the companies named in the 2G scam.
Kalaignar TV in this TV channel Karunanidhi's wife MK Dayalu owns 60 per cent and daughter Kanimozhi owns another 20 percent in the DMK Kalaignar TV channel.
DB Realty owned by Shahid Balwa gave loan to DMK's Kalaignar TV.
Kalaignar TV's balance sheet shows Rs 214.84 crore as an as an unsecured loan
It comes from Cineyug Media and Entertainment Pvt Ltd and the exact amount is Rs 214.8654 crore.
It is given to Kalaignar TV as an unsecured loan in the company's balance sheet for the year 2009-2010.
Cineyug is owned by the Balwas and the Morani Brothers.
Now Cineyug balance sheet shows Rs.212 crore is loaned by Kusegaon Fruit and Vegetables Pvt Ltd.
Now again this Kusegaon Fruit and Vegetables Pvt Ltd shows an unsecured loan in its balance sheet of Rs 209 crore.
The Supreme Court had asked the government to set up a special court exclusively for dealing with the 2G spectrum case.
following directions of the Supreme Court Delhi Government issued a notification designating Om Prakash Saini as a special judge to "undertake the trial of cases in relation to all matters pertaining to 2G scam exclusively."
In a separate notification, Department of Revenue in the Finance Ministry designated the sessions court of Saini as special court to deal with offences under the Prevention of Money Laundering Act 2002.
CBI had informed the court that it will file the first chargesheet in 2G spectrum scam against former Telecom Minister A Raja and other accused under the Prevention of Corruption Act for cheating and forgery by March 31.
The CBI has also sought time till April 2 to file the chargesheet in the 2G scam case.
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Tuesday, March 29, 2011
Keywords Tags - 2G scam, CBI, Shahid Usman Balwa, Asif Blawa, and Rajiv Agarwal arrested in 2G scam
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