A court here on Wednesday sent Asif Balwa and Rajiv Aggarwal, directors of Kusegaon Fruits and Vegetables Private Limited, to two days of CBI custody for their alleged involvement in monetary transactions amounting to Rs.200 crore made by Dynamix Realty to Kalaignar TV.
The CBI told Special Judge (CBI) O. P. Saini that Mr. Balwa and Mr. Aggarwal were “instrumental in transferring a sum of Rs.200 crore to the accounts of the Kalaignar TV through the accounts of Cineyug Films.” Both were arrested on Tuesday.
Vijay Aggarwal, counsel for the accused, submitted in the court a flow chart indicating that Rajiv Aggarwal and Asif Balwa owned 50 per cent equity each in the Kusegaon Fruits and Vegetables and it (Kusegaon) in turn had 49 per cent equity in Cineyug Films.
Mr. Vijay Aggarwal asked the CBI why it was yet to arrest the owners of Kalaignar TV. According to the flow chart, Tamil Nadu Chief Minister M. Karunanidhi's daughter Kanimozhi had 20 per cent equity in Kalaignar TV, his wife Dayalu Ammal 60 per cent and Sharad Kumar 20 per cent equity.
“My clients are being unfairly targeted. We are small people. Why are the people who finally received the money not arrested yet?” Mr. Vijay Aggarwal asked. He also charged the CBI with keeping Mr. Balwa for a period longer than 24 hours in custody after arrest, without producing them before a magistrate after arresting them.
The CBI responded that though Mr. Balwa was summoned to the CBI headquarters at 9 a.m. on Tuesday, he was formally placed under arrest only at 11.30 a.m. He was produced before the court at 11 a.m. on Wednesday.
However, the judge did not agree with the contention of the accused that his time of arrest should be treated as 9 a.m.
The CBI said it was yet to recover an agreement dated December 19, 2008 executed between Cineyug Films and Kalaignar TV.
Mr. Vijay Aggarwal said that the document was not traceable and that it might have been seized by any one of the multiple investigating agencies that raided their offices and homes.