Former Telecom Minister A Raja is already in the custody of Central Bureau of Investigation (CBI) and there are allegations that some other DMK members are also involved in the 2G scam. Documents with CNN-IBN show that money was loaned by DB Realty group to DMK's Kalaignar TV through a maze of transactions. It is this deal that has formed the core of Monday's chargesheet.
DB Realty is owned by Shahid Usman Balwa who has a stake in Swan Telecom which is one of the companies named in the 2G scam. CNN-IBN has accessed the balance sheets of three companies to establish that loans were made to Kalaignar TV. Karunanidhi's wife MK Dayalu Ammal owns 60 per cent and daughter Kanimozhi owns another 20 per cent in Kalaignar TV.
The loan for Kalaignar TV that's causing a political storm include Rs 214.84 crore that is reflected in the channel's balance sheet as an unsecured loan. It comes from Cineyug Media and Entertainment Pvt Ltd and the exact amount is Rs 214.8654 crore. It has been given to Kalaignar TV as an unsecured loan in the company's balance sheet for the year 2009-2010.
Cineyug is owned by the Balwas and the Morani brothers.
As per the Cineyug balance sheet Rs 212 crore is loaned by Kusegaon Fruit and Vegetables Pvt Ltd. Kusegaon is owed by Asif Balwa and Rajiv Agarwal. Kusegaon itself shows an unsecured laon in its balance sheet of Rs 209 crore. Asif Balwa is a director with DB Realty which has a stake in Swan Telecom.
Kalaignar TV officials did not respond to requests from CNN-IBN.
But DB Realty said in a statement saying, "DB Realty does not have any association with Cineyug or Kalaingar TV. Dynamix Realty, a partnership firm gave an interest bearing loan of Rs.214 crores to Kusegaon Realty Pvt Ltd which in turn based on commercial intent, given a loan to Cineyug Films Pvt Ltd. However on account of valuation differences, this acquisition could not be completed. Post this, Kalaingar TV returned the monies to Cineyug, which in turn returned it to Kusegaon Realty Pvt Ltd in 2010-11."
But the last available balance sheet with CNN-IBN shows that the transactions have indeed happened.
The companies say the transaction has been annulled now. But that is also an admission that money from a company that got 2G licences made its way to the channel owned by A Raja's party, the DMK. The CBI is now investigating criminal misconduct in the 2G scam between the bribe givers and the bribe takers.
Establishing such a link will be crucial evidence that could lead to cancellation of licences and take the scam beyond Raja.
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