The Delhi High Court will pronounce on Wednesday its verdict on the bail petitions of DMK MP Kanimozhi and Kalaignar TV promoter and director Sharad Kumar, who are in judicial custody in the 2G spectrum allocation case.
On May 30, Justice Ajit Bharihoke reserved orders on the bail petitions, and it was expected that he would give his verdict by June 3 when the High Court was closed for the summer vacation. However, he could not deliver the judgment on June 3. So, he is holding a special sitting on June 8.
Both Ms. Kanimozhi and Mr. Kumar had contended that the Rs. 200 crore Kalaignar TV received from M/s. Cineyug Pvt. Ltd. was a loan and not a bribe as claimed by the CBI in its charge sheet. It was a transparent transaction, and the amount received through bank was duly accounted for and repaid.
They had said there was no material with the CBI to show that the amount received was not a loan. Since they were alleged to have received only the proceeds of the crime and they had no role in the alleged crime, they prayed for bail.
But the CBI argued that the two had attempted to create a “smoke screen” by projecting the bribe trail of Rs. 200 crore as a loan transaction. It maintained that the amount was a bribe, and it was a “dubious” transaction as no contemporaneous documents were executed by any of the companies which were part of the transaction.