2G bribe routed to DMK TV

Feb 10, 2011 |

Correspondent

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New Delhi/Mumbai, Feb. 9: Swan Telecom had bagged 2G licences for 13 circles, including Mumbai and Delhi, for `1,537 crore, but sold 45 per cent shares to UAE telecom giant Etisalat for approximately `4,200 crore within months.

Shahid Balwa was brought to Delhi on Wednesday after a special court in Mumbai granted the CBI a two-day transit remand. He has been charged with criminal misconduct and criminal conspiracy.

Sources say other firms connected to DB Realty transferred over `200 crore to a television network connected to the family of the TN Chief Minister, Mr M. Karunanidhi. DB Realty holds a majority — 99 per cent — in another firm called Dynamix Realty. It was this firm that transferred over `200 crore to Kusegaon Realty which transferred the same to Cineyug Films, which transferred the money to Kalaignar TV, sources added.

According to CBI sources, 50 per cent of Kusegaon Realty is owned by Asif Balwa, who happens to be the chief financial officer of DB Realty and brother of Balwa.

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