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Policy & Regulation
DMK''s Kalaignar TV linked in 2G scam
TT Correspondent |  |  11 Feb 2011

The probe into the second-generation mobile telephony spectrum scam has shown links between accused Shahid Usman Balwa-promoted Swan Telecom and Kalaignar TV owned by DMK''s first family.

 

Balwa, linked to Swan Telecom, which was allegedly favoured by former telecom minister A Raja in grant of UAS licence and scare radio waves, according to CBI submission in a local court while seeking further remand of Raja.

"It has also come to light that there was a transaction of Rs214 crore from M/s Cineyug Films private limited to Kalaignar TV in 2009. Kalaignar TV belongs to Sharad Kumar and others who are closly associated with Raja."The funds were arranged by M/s Cineyug Films from DB Group companies wherein the family members of Balwa are the directors or shareholders," CBI said in its application.

Balwa's DB realty had floated Swan Telecom which bagged the spectrum at low prices only to sell of a portion of it at very high profit.

Balwa sold a share in the licence to Etisalat, a UAE based company, allegedly for Rs4,200 crores while he had got it for just Rs1537 crore.

CBI sources said the money transfer to the firm owned by DMK, could become an important circumstantial evidence.

They hinted at the possibility of questioning of certain people associated with the TV channel.

    
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11 Feb 2011(IST)  
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