Note that the amount has been credited as Loan after CBI caught Raja and not before.
And if somebody were to invest 200 crores,as claimed, please let me know investors who are prepared to loan(?) 200 crores in a Company as Kalaignar TV which has a paid up Capital of Rs.One lakh.
If Kalaignar TV is such a hot stock, why did not the FI s and Institutional investors grab it?
Did Kalaignar TV approach any institution for Loan and if so with what results?
‘Kanimozhi did not know what was happening and Dayalu does not know English?’
Also read what UB and India Cements have to do with Kalaignar TV.
Based on its probe conducted till date, the CBI has discovered, “the said amount of Rs 200 crore was transferred by M/s Dynamix Realty to various DB group companies that includes M/s DB Realty Limited, M/s Nihar Constructions Private Limited, M/s Eversmile Construction Private Limited, and M/s Conwood Construction and Developers Private Limited, immediately after it received the same from M/s Kusegaon Fruits and Vegetables Private Limited during December 2010 to February 2011.” This crucial information has served a shot in the arm for both the CBI and the Enforcement Directorate that has already registered a case in this regard under the Prevention of Money Laundering Act 2002. With the CBI sharing even the documents, chargesheet and statements of witnesses in this regard, it has paved the way for ED to attach the properties of the said four companies. Once this is done, the entire bribe amount could be accounted for and reserved as “case property” to nail the lie of the accused. Moreover, another interesting aspect which the CBI has stumbled upon is the timing of the repayment. The bribe of Rs 200 crore was paid by Balwa-owned DB Realty to Kalaignar TV in 15 instalments between December 2008 and August 2009 while the refund by Kalaignar TV initiated only on December 12, 2010 when the CBI first contacted former Telecom Minister A Raja to interrogate him. As the CBI inched closer to the DMK empire based on the interrogation of Raja and other accused, the instalments for repayment increased, as a result in January 2011 there were five instalments made where a huge chunk was transferred back to Cineyug. The last instalment came on February 3, 2011, just a day after Raja was arrested. While this information forms part of crucial evidence in the hands of CBI to oppose bail for Kalaignar TV stakeholders Kanimozhi and Sharath Kumar (both owning 20 per cent equity), there are more facts which the CBI intends to produce by Monday when the bail pleas will be taken up in the SC. After Kalaignar TV stakeholders took the bribe and case investigation proceeded they realised the need to show an interest component attached with the said amount of Rs 200 crore as also tax deducted on the loan to be paid to the Government. Thus, while refunding the principal amount of Rs 200 crore, the channel arranged for an additional sum of Rs 31 crore accruing towards interest. This was transferred in three instalments to Cineyug on December 12, 2010, December 29, 2010 and February 3, 2011. A document pledging the entire equity holding of Kalaignar TV to Cineyug was signed on December 30, 2009 at a meeting where both Kanimozhi and Sharath were present. The tax accruing on the transaction was deposited with the Government in three instalments – two in December 2010 and one on February 3, 2011, giving reasons for CBI to conclude the loan theory was an “afterthought”.
http://www.dailypioneer.com/346999/CBI-unravels-mystery-behind-missing-Rs-200-crore-bribe.html
Probing the trail of Rs 200 crore, which was paid to Kalaignar TV by Swan Telecom in the 2G spectrum scam, the CBI has now reached at the doors of four private companies including UB Group and India Cements.
http://timesofindia.indiatimes.com/india/4-pvt-firms-helped-Kalaignar-TV-repay-Swans-Rs-200-cr-CBI/articleshow/8969959.cms
Chan @chanvivek11 May
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