1. Enforcement Directorate gives out final arguments in 2G money laundering case

Enforcement Directorate gives out final arguments in 2G money laundering case

The Enforcement Directorate (ED) today concluded its final arguments before a special court in the 2G scam related money laundering case in which former Telecom Minister A Raja, DMK MP Kanimozhi and 17 others are facing trial.

By: | New Delhi | Published: January 15, 2016 5:18 PM

The Enforcement Directorate (ED) today concluded its final arguments before a special court in the 2G scam related money laundering case in which former Telecom Minister A Raja, DMK MP Kanimozhi and 17 others are facing trial.

Special public prosecutor Anand Grover wrapped up his final arguments contending that the Rs 200 crore transaction between DMK-run Kalaignar TV (KTV) and the DB Group firms was “proceeds of crime” and not genuine.

Special CBI Judge O P Saini has now fixed the case for final arguments by the defence on March 1.

The ED had earlier alleged that Rs 200 crore was paid to Kalaignar TV in lieu of grant of 2G spectrum licences to Swan Telecom Pvt Ltd (STPL) by Raja.

It had claimed that Rs 200 crore transaction between DB Group firms and Kalaignar TV was “illegal gratification” and the money travelled through a “circuitous route” from Dynamix Realty to Kusegaon Fruits and Vegetables Pvt Ltd and Cineyug Films Pvt Ltd and finally reached KTV.

Grover had earlier told the court that there was “inconsistency” in the transaction which reflected that it was not genuine.

ED had alleged that a conspiracy was hatched by Raja, Kanimozhi, DMK supremo M Karunanidhi’s wife Dayalu Ammal and others and Rs 200 crore was the “proceeds of crime”.

Raja, Kanimozhi, Ammal and 16 others, including nine firms, are facing trial in the case in which ED had on April 25, 2014 filed a charge sheet under the provisions of the Prevention of Money Laundering Act (PMLA).
ED has named 10 individuals and nine companies as accused in the case for the offence of money laundering under the provisions of PMLA.

All the accused, who are out on bail, have denied the allegations against them.

ED also named Shahid Balwa and Vinod Goenka as accused in the case.

Directors of Kusegaon Fruits and Vegetables Pvt Ltd, Asif Balwa and Rajiv Aggarwal, Bollywood producer Karim Morani, P Amirtham and Kalaignar TV Managing Director Sharad Kumar have also been named as accused in the case.

Apart from STPL, ED has named as accused Kusegaon Realty Pvt Ltd (formerly known as Kusegaon Fruits and Vegetables Pvt Ltd), Cineyug Media and Entertainment Pvt Ltd (formerly known as Cineyug Films Pvt Ltd), Kalaignar TV Pvt Ltd, Dynamix Realty, Eversmile Construction Company Pvt Ltd, Conwood Constructions and Developers (P) Ltd, DB Realty Ltd and Nihar Constructions Pvt Ltd.

Raja, Kanimozhi, Shahid Balwa, Vinod Goenka, Asif Balwa, Rajiv Aggarwal, Karim Morani and Sharad Kumar are also facing trial in the 2G scam case in which CBI had earlier filed charge sheets and court is presently hearing final arguments.

Dayalu Ammal was holding 60 per cent stake in Kalaignar TV while Kanimozhi and Sharad Kumar each were holding 20 per cent stake.

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