2G money laundering case: Raja, Kanimozhi granted bail

New Delhi, Aug 20:

A special court here Wednesday granted bail to former telecom minister A. Raja, DMK MP Kanimozhi and others in a money launcering case relating to the allocation of 2G spectrum.

Central Bureau of Investigation (CBI) Special Judge O.P. Saini allowed bail plea of Raja, Kanimozhi, Swan telecom promoters Shahid Usman Balwa and Vinod Goenka, Kusegaon Fruits and Vegetables Pvt. Ltd. (KFVPL) directors Asif Balwa and Rajiv Agarwal, Bollywood producer Karim Morani, Kalaignar TV director Sharad Kumar and P. Amirthan, who were chargesheeted by the ED in the case.

The companies named in the case are Swan Telecom Pvt. Ltd. (STPL), Kusegaon Realty Pvt. Ltd., Cineyug Media and Entertainment Pvt. Ltd. (Cineyug Films), Kalaignar TV (KTV) Pvt. Ltd., Dynamix Realty, Eversmile Construction Company Private Limited, Conwood Construction and Developers (P) Ltd., DB Realty Ltd. and Nihar Construction Pvt. Ltd.

The accused have been booked under various sections of the Prevention of Money Laundering Act (PMLA).

“The investigation revealed that an amount of Rs.200 crore was paid by promoters of STPL, using their group entity Dynamix Realty, to KTV, through KFVPL and CFPL (Cineyug Films) in the garb of legitimate financial transaction, that is as loan/share application money,” the Enforcement Directorate (ED) has said in the chargesheet.

It has said the payment was illegal gratification for and on behalf of Raja and his associates in lieu of illegal favours given to the STPL for grant of UAS licence.

The ED has further added that investigation has revealed that the return of Rs.200 crore has been done along with the additional amount in order to show this illegal payment in the guise of legal and bona fide financial transactions.
(IANS)