Bhushan said on Wednesday that only two news clips have been filed in the top court to inform the bench of Justices G S Singhvi and A K Ganguli of the investigation to catch the culprits in the 2G scam.
Supreme Court lawyer and anti-corruption activist Prashant Bhushan has drawn the apex court’s attention towards the involvement of DMK chief MK Karunanidhi’s wives Dayalu Ammal and Rajathi and Union minister Dayanidhi Maran in the transactions relating to 2G spectrum allocation by former Telecom minister A Raja.
Bhushan said on Wednesday that only two news clips have been filed in the top court to inform the bench of Justices G S Singhvi and A K Ganguli of the investigation to catch the culprits. A member of the Lok Pal Bill drafting committee, Bhushan wants the allegations against Maran and Dayalu Amma be probed by the CBI and other agencies that are in charge of cases relating to money laundering.
It was alleged that during the tenure of Raja’s predecessor Maran, a DMK MP, exceptional delay had been caused in allocating license to Aircel because it was owned by Siva Group. This company was handed out 14 licenses.
Maxis Group made investments in Maran’s family-run business Sun Network of Rs 599.1 crore. In addition to investments in Sun Direct, an investment of Rs 111.28 crore was made by Maxis in a FM company owned by the Marans.
According to the reports that are in the court’s domain, Maxis paid $1,072.29 million (99.29% of Aircel) and Apollo group’s Reddy family paid $771 million (0.71 per cent of Aircel) for the entire deal which was valued $1,080 million for purchasing 100 per cent stake in Aircel. But on paper, Maxis 73.9999% per cent equity shares of Aircel while the Reddy family held 26.0001 per cent equity shares of Aircel.
For getting the 26 % equity shares, the Reddy family was required to pay $280.80 million but it paid only $771 million. The balance was paid from the funds created by Maxis through preferential shares. Prima facie the Maxis-Aircel shareholding appears to have been drawn on similar lines as Hutch. Whatever difference appears is because Analjit Singh and Asim Ghosh did not put their own money in their Indian ventures. The entire funding was raised through borrowings in the names of their companies with the securities provided by Hutch.
However, in the case of Maxis, a little money has been put by the Reddy family while the balance money for them was raised through preferential shares by Maxis. But these need to be verified more discretely by investigating agency because Maxis is not listed on NYSE and may be hiding certain critical information, the court has been told. On Karunanidhi’s wives, Bhushan says Kalaignar TV’s account with the Indian Bank suggests that a/c No 733560561 bore the signatures of MK Dayalu, Kanimozhi and Sharad Kumar.
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