01 October, 2020

The Swan Song Now

The CBI sets out to track the money trail from 2G beneficiaries to Kalaignar TV

The Swan Song Now
outlookindia.com
-0001-11-30T00:00:00+05:53

There seems to be no end to the twists in the Rs 1.76 lakh crore 2G spectrum scam. After it arrested A. Raja on February 2, the CBI finally submitted that there was a direct money transaction linking Swan Telecom to the Karunanidhi family. Following the submission, it arrested Shahid Usman Balwa, who had set up Swan Telecom, one of the beneficiaries of the scam. While seeking his custody in court, the CBI then submitted that they were looking into cash transfers that linked Balwa to members of the DMK family.

This week, the CBI submitted that Balwa’s firm, DB Realty, had set up Dynamix, a company that was into investments. Dynamix in turn “invested” in subsidiary company Kusegaon that would lend money as a non-banking financial corporation. Funds from Kusegaon then travelled to yet another group company, Cineyug. And Cineyug, CBI now has records to show, put in Rs 206 crore in Kalaignar TV, a channel in which Karunanidhi’s second wife Dayaluammal (mother of M.K. Stalin and M.K. Azhagiri) and daughter Kanimozhi...

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