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Cineyug gave Rs 200 cr to Kalaignar TV as loan: Kanimozhi

Posted by on June 19, 2011 0 Comment

DMK MP Kanimozhi on Saturday rubbished CBI’s allegation about the circuitous transfer of Rs 200 crore by Swan Telecom’s Shahid Balwa to DMK-controlled Kalaignar TV and said the agency has misconstrued a pure business deal to be a quid pro quo for issuance of 2G spectrum and licences.

In a rejoinder to the CBI’s 47-page affidavit filed in the Supreme Court, Kanimozhi through her counsel V G Pragasam said KTV has provided documents which clearly established that it had taken a loan of Rs 200 crore from Cineyug at market rate.

KTV returned the money with interest to Cineyug Films and all statutory laws were adhered to in the business transaction, she said.

DMK supremo M Karunanidhi’s daughter, who is an accused in the case, said the Delhi high court did not appreciate her legal position in the 2G spectrum allocation scam and erred by rejecting her bail plea.

She had argued on June 13 that she was merely charged for conspiracy and has not been accused for the main offences like irregular distribution of spectrum causing huge loss to the exchequer or misusing official position to accept bribe.

Kanimozhi’s rejoinder was handed over to the CBI and would be placed before a vacation bench comprising Justices G S Singhvi and B S Chauhan on Monday, when the court will hear her bail plea along with that of KTV MD Sharad Kumar. Economic Times

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