NEW DELHI (TIP): A Special CBI court on March 26 dismissed pleas by four firms to acquit them in the money laundering case related to the 2G spectrum scam.
DB Realty, Nihar Construction Private Limited, Eversmile Construction Company Private Limited and Conwood Construction and Developers Pvt Ltd had filed petitions earlier this month seeking acquittal from the case claiming that the Enforcement Directory (ED) did not come up with evidences against them. However, after hearing the arguments from prosecution and defence, the court said there are adequate materials on record against the companies for the trial to continue.
The four companies, along with former Telecom Minister A Raja, DMK Rajya Sabha MP Kanimozhi and 13 others have been accused of colluding with each other in parking Rs 200 crore bribe money in Kalaignar TV for grant of spectrum licenses to DB Group Companies.
Raja illegally favoured Swan Telecom Pvt Ltd (now Etisalat DB Telecom Pvt Ltd) while granting unified access licence and took “extra effort” to get the licenses cleared for Kalaignar TV (P) Limited where Rs 200 crore bribe money was parked through a series of transactions emanating from a company owned by one of the accused Shahid Balwa, ED joint director Himanshu Kumar Lal recently deposed in the court.
Explaining the money trail, the prosecution witness also told the Court that Dynamix Realty, owned and managed by Balwa and Goenka, transferred Rs 209.25 crore to Kusegaon Fruits and Vegetables (P) Ltd, promoted by Shahid Balwa’s brother Asif Balwa and director.
The Kusegaon Fruits and Vegetables (P) Ltd then transferred Rs 206.25 crore to accused Karim Morani’s Cineyug Films (P) Ltd. The production company then transferred Rs 200 crore to Kalaignar TV (P) Ltd. However, arguing for their acquittal earlier this month, council for DB Realty, Nihar Construction Pvt Ltd, Eversmile Construction Company Pvt Lt and Conwood Construction and Developers Pvt Ltd Vijay Agrawal contended that there was no evidence indicating the firms’ involvement in the transaction of money.