CBI conducts raids at offices of DMK-run Kalaignar TV

Posted By: Pti
Subscribe to Oneindia News

Chennai, Feb 18 (PTI) The CBI today carried outsearches in the offices and residences of top management ofDMK first family run Kalaignar TV in connection with the 2Gspectrum scam.

The raids came days after the channel claimed it hadno links with the case.

Official sources said searches began in the wee hoursto probe certain financial transactions that could beconnected to the spectrum scam, that has already seen thearrest of former Telecom Minister A Raja.

The raids came in the wake of allegations that thatthere was a connection between accused Shahid UsmanBalwa-promoted Swan Telecom and the channel.

Balwa was allegedly favoured by Raja in grant of UASlicence and scarce radio waves.

Officials said the crux of the probe relates to theover Rs 200 crore loan arranged by Balwa''s DB Realty group forKalaignar TV.

DMK chief M Karunanidhi''s wife MK Dayalu owns 60 percent stake in Kalaignar while party MP Kanimozhi has 20 percent.

The CBI had told a court recently, "It has also cometo light that there was a transaction of Rs 214 crore from M/sCineyug Films private limited to Kalaignar TV in 2009.

"The funds were arranged by M/s Cineyug Films from DBGroup companies wherein the family members of Balwa are thedirectors or shareholders", CBI had said in its applicationfiled before the court.

Kalaignar TV''s denial earlier had followed CBI''sallegations that there was a connection between scam accusedBalwa-promoted Swan Telecom and the channel.

Managing Director of Kalaignar TV, Sharad Kumar haddenied receiving pay-offs from DB realty, whose chief Balwa isin CBI net along with Raja.

Kumar had also said the sum received from CineyugFilms was an "advance for transaction of shares", and wasreturned with interest when the two parties differed over theprice evaluation of shares.

He had said that the money from Cineyug was receivedas loan which had been repaid with interest and the Income Taxdepartment was aware of the transaction.

Please Wait while comments are loading...