Dayanidhi Maran was the communication minister from 2004-2007 and is alleged to have lured Sivasankaran, former Aircel promoter into selling his stake in the company to a Malaysia based company-Maxis group owned by T Ananda Krishnan.
The shares of Sun TV Network at the Bombay Stock Exchange (BSE) came down to 8.44 per cent to touch a low of Rs 240.60 which later decreased gradually and was trading 61 per cent down at Rs.248.05 in noon trade.
The Sun TV Network scrip since Aug lost about 14.5 per cent and 100 percent when compared to the levels of the year 2010.
The CBI on Sep 28 in Supreme Court said that investigations against Maran was completed and soon a FIR against him would be filed after a decision on Sep 30.
Maran was alleged to have knowingly delayed the granting of licenses to Shivashankaran. The charges against him include that Maran's brother Kalanidhi's SUN TV received a benefit of Rs 750 crore because of Maran.