4 pvt firms helped Kalaignar TV repay Swan's Rs 200 cr: CBI

NEW DELHI: 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.

While the names of the other two companies could not be ascertained, CBI officials said the four had facilitated payments to Kalaignar TV to help it repay Rs 200 crore to Swan.

"We will seek clarification from these four companies to know why they lent money to Kalaignar TV though there is no criminality in giving money to someone," a senior official said. So far, the agency has not questioned any officer or sent a written request to the companies but will soon initiate the process.

"We will look at the circumstances under which money was given," the officer added.

A news agency reported that India Cements vice-chairman and managing director N Srinivasan said he was not aware of the development.

"The UB Group would like to clarify that the only commercial transaction that it has with Kalaignar TV is a regular advertising contract which is in the ordinary course of business... Any speculation or suggestion of any other financial transaction in the nature of a loan to Kalaignar TV is completely untrue. We would be happy to clarify the same if and when any agency contacts us," the news agency quoted a company spokesperson as saying.

In its chargesheet, CBI had alleged that DMK chief M Karunanidhi's daughter Kanimozhi and Kalaignar TV MD Sharad Kumar were part of a criminal conspiracy in which DB Realty paid a bribe of Rs 200 crore to Kalaignar TV in return for 2G telecom licences and spectrum during A Raja's tenure as telecom minister.

Kalaignar TV, however, claimed that it was a legitimate loan taken on market rates to run the channel and they had returned the money with interest (approximately Rs 214 crore) to DB Realty from December 2010 to February 2011. The funds are alleged to have been routed through Kusegaon Fruits & Vegetables, another DB Group company, and Cineyug Films.

CBI, in collaboration with Enforcement Directorate, is making efforts to trace the Rs 200 crore alleged to have been paid by DB Group. CBI has also sent a letter to ED requesting the agency to begin the process of attaching the properties of DB Realty.

The alleged illegal transaction of Rs 200 crore landed Rajya Sabha MP Kanimozhi in Tihar jail and she has been denied bail by court. CBI called her the 'active brain' in its investigations.