CBI has already inspected he accounts from sources and they are convinced that a small (?)amount of Rs. 200 crores had been advanced to Kalaignar and that the TV has repaid it.
Point is why should a company loan 200 crores to the TV?
It is not as though Kalaignar TV can not raise loans from other sources.
Note the dates of Transactions synchronizing with 2G scam.
No doubt you have repaid it.
In fact you did not need it in the first instance.
You have provided Temporary parking facility(TPF)of funds whose source is yet tobe ascertained.
Are you prepared to disclose the actual source of funds for your home productions and distribution?
As an aside how come a man( Karunanidhi) who came to Chennai with only a Trunk own a mammoth empire like Kalaignar TV?
CHENNAI: Kalaignar TV Pvt Ltd, floated by the family members of Chief Minister M Karunanidhi, on Wednesday said that the Central investigating agencies can verify the accounts and documents of the television channel at any time if they still had any doubts over the money transaction with Cineyug Film Private Limited.
“If the CBI and IT department have any doubts in this transaction, they can inspect the accounts and documents at any time,” Kalaignar TV’s managing director Sarad Kumar said in a statement.
He said despite clarification that the channel had no connection with the 2G spectrum allocation made in 2007-08 and the loan transaction with Cineyug in 2009, the CBI had mentioned about the loan transaction in the court.
Kalaignar TV had paid `31 crore as interest for the amount of `200 crore received as a loan from Cineyug and tax paid for the entire transaction, he observed.
http://expressbuzz.com/states/tamilnadu/kalaignar-tv-we-are-open-for-inspection/248769.html
MUMBAI: DB Realty Ltd officials declined to comment when contacted about the ongoing investigations into the transfer of funds to the Kalaignar TV channel. On Tuesday night, the CBI arrested Shahid Balwa, a director of DB Etisalat. DB Realty Ltd is a joint counstruction venture between the Balwa family and Vinod Goenka. Dynamix Realty is a firm in which DB Realty owns a major stake.
Tax officials, during a raid on Cineyug Films, found a series of transfers from DB’s group companies such as DB Realty and DB Infrastructure Pvt Ltd to another group company, Dynamix Realty, to yet another group company, Kusegaon Fruits & Vegetables Pvt Ltd, to Cineyug, which is 49% owned by Kusegaon, and finally to Kalaignar TV.
A senior revenue official, who did not wish to be named, said, “When the raids were on, the minister called up a senior I-T officer and requested him not to proceed with the probe. The officer was under pressure.” The minister tried to convince the officer by saying that they were from the same state and he should therefore help out.
When contacted, a Cineyug spokesperson responded in writing to say, “We, Cineyug Films, have given a loan amounting to Rs 200 crore to Kalaignar TV during the years 2008-09 and 2009-10. All the loan amount has been received back along with interest. All these transactions are accounted in our books properly and income tax on interest is also duly paid.”
In an email the spokesperson for Cineyug also said that Cineyug Films Pvt Ltd is now known as Cineyug Media & Entertainment Pvt Ltd, while Kusegaon Fruits & Vegetables Pvt Ltd is now known as Kusegaon Realty Pvt Ltd.
Read more: We gave funds as loan to Kalaignar TV: Cineyug – The Times of India http://timesofindia.indiatimes.com/city/mumbai/We-gave-funds-as-loan-to-Kalaignar-TV-Cineyug/articleshow/7464176.cms#ixzz1EBsWC4KN
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