Posted by: ramrajya | February 12, 2011

Raja made 3,000cr in bribes and Kalaignar TV received 200 crore as loan.

Raja made 3,000cr in bribes and Kalaignar TV received 200 crore as loan.

The Central Bureau of Investigation and the Enforcement Directorate have estimated that former telecom minister A Raja could have got bribes to the tune of Rs 3,000 crore, and have put the loss to the exchequer from the underselling of spectrum at Rs 40,000-50,000 crore.


The two agencies have linked bribes Raja got to the order he passed on January 2008 to suddenly bring forward the cut-off date for applications for spectrum from the initial October 21, 2007, to September 25, 2007. The deadline switch eliminated many applications, enabling Raja to favour a select few with spectrum.


In the process, Raja became richer by approximately Rs 3,000 crore. These are initial estimates of Raja’s alleged new-found wealth as well as the loss to the exchequer and are not part of the progress report submitted by the CBI and the ED to the Supreme Court on Thursday. In their report to the court, the agencies said some telecom companies, who eventually got licences, had got drafts for licence fees ready even before the revised cut-off date of September 25, 2007, implying that they were aware of the minister’s plan to change the deadline.


The companies that have been accused of collusion with Raja include Swan, Unitech, Videocon, STel and Aircel. The new licencees got huge foreign investments. One of them brought in share capital worth 625 million Singapore dollars and in another case, $8 million came in via Dubai.


Top DMK leaders went into a huddle on Thursday 10-2-2011 , stunned by the CBI submission before the Supreme Court that former telecom minister A Raja had got Rs 3,000-crore kickbacks out of 2G spectrum allotment. Party sources told TOI that the DMK planned to arrange a team, led by a top defence lawyer, for Raja to control the possible damage in the run-up to the assembly polls this year.


On Tuesday 9-2-2011 the CBI arrested Shahid Balwa, a director of DB Etisalat. DB, or Dynamix Balwas, is a joint venture between the Balwa family and Vinod Goenka. 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, in which Kusegaon has a 49% stake, and finally to Kalaignar TV.


A Cineyug spokesperson responded in writing to say, “We, Cineyug Films, have given a loan amounting to Rs 200 cr to Kalaignar TV during the year 2008-09 and 2009-10. The entire loan amount has been received back along with interest. CBI states they are going to verify the genuineness of these transactions with Sarath Kumar who is one of the Directors of Kalaignar TV.


People must think well and decide whether these people to rule our country? See some clippings from TV Channels.


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