He was the Managing Director of Greenhouse Promoters, a shell company that was used to channelize Raja's loot in the form of bribes he received from telecom companies. Raja's wife, MA Parameshwari was the Director in the company as well. The CBI had questioned him in Dec on his involvement in the scam.
The investigative agencies will now be looking into if Sadiq was coerced into taking the extreme step and if there was any pressurizing from an outside party that led this turn of events.
Considering Sadiq was a major link to unfolding the scandal that caused a huge loss to the country's exchequer. Sadiq was meant to fly to Delhi today when he took such an extreme step. The Police Commissioner of Chennai has confirmed death and postmortem is yet to be conducted.
He was also from the same constituency as Raja, Perambalur and was a classic rags-to-riches story. From a small-time trader of sarees to a telecom kingpin worth Rs 2000 crore.
Janata Party Chief Subramanian Swamy has thrown a conspiracy theory by saying that the reason of the suicide needs to be investigated and all foul play should be ruled out before coming to any conclusion.
Who is Sadiq Batcha?
Sadiq Batcha allegedly floated Green House Promoters, a Chennai-based export house, in order to divert the 2G scam money. Green House Promoters is believed to be a conduit for funds that were paid as kickbacks in the 2G spectrum allocation scam.
Green House Promoters had come under the scanner of CBI and Enforcement Directorate. Sources had revealed that his firms could have acted as a front for possible kickbacks in the scam.