News » National

Updated: June 13, 2011 23:49 IST

Where has Rs. 200 crore gone, Supreme Court asks CBI

J. Venkatesan
Comment (7)   ·   print   ·   T  T  
DMK Member of Parliament Kanimozhi arrives at the Patiala House courts in New Delhi for the hearing on the 2G spectrum case. File photo
DMK Member of Parliament Kanimozhi arrives at the Patiala House courts in New Delhi for the hearing on the 2G spectrum case. File photo

The Supreme Court on Monday asked the Central Bureau of Investigation to explain where the amount of Rs. 200 crore allegedly received as bribe by Kalaignar TV in the 2G scam “has gone.”

A vacation Bench of Justices B.S. Chauhan and Swatanter Kumar, while issuing notice to the CBI on the bail plea of DMK MP Kanimozhi and Managing Director of Kalaignar TV Sharad Kumar, asked the agency to file its response in one week and posted the matter for further hearing on June 20.

The Bench asked the CBI to answer three points, viz., “where has the Rs. 200 crore amount gone; status report on the loss caused to the state exchequer in the award of 13 Unified Access Service licences and the status of the trial before the special CBI court.”

Earlier senior counsel Altaf Ahmed and Sushil Kumar appearing for the petitioners submitted that the amount of Rs. 200 crore received as loan by the TV channel was accounted for and repaid to Cineyug Films.

When Mr. Ahmed submitted that keeping the petitioners in jail was violation of their human rights, Justice Chauhan observed: “You say it is violation of human rights. Corruption is the worst form of human rights violation.”

Justice Swatanter Kumar told counsel: “You say it is a loan. Where has the Rs. 200 crore gone? By whatever name you call it, whether it is a kickback or a bribe, either way according to the charge sheet it is not part of the legal transaction.”

Mr. Ahmed, however, argued that the accused were not recipients of the spectrum and had merely taken a loan of Rs. 200 crore which had been returned. He said since investigation had already been completed, bail could be granted and they would cooperate with the investigating agency, whenever required.

When CBI counsel Sonia Mathur sought two weeks' time for filing the reply, Justice Chauhan told her: “You cannot keep the petitioners in jail for two or three months. If you want, you [CBI] can always interrogate them.”

Later Additional Solicitor-General A.S. Chandiok appearing for the CBI said the agency would file the response in one week.

“Loan shown as bribe”

In their appeal against the Delhi High Court order, Ms. Kanimozhi and Mr. Sharad Kumar contended that a mere loan obtained from one company by another through bank and repaid by the borrowing company, with interest and tax deduction was imaginarily portrayed as receipt of bribe on the basis of the belated and oral statements of obliging witnesses.

They said: “The supplementary charge sheet itself reveals that the initial money transfers of the total of Rs. 200 crore funded by Cineyug Films to Kalaignar TV was made only for the acquisition of the equity shares of Kalaignar TV to the tune of 32-35 per cent of the total equity. Since the negotiation of equity shares failed, the total amount of Rs. 200 crore stood converted into a loan, having an interest at 10 per cent per annum as per share subscription and shareholder agreement dated December 19, 2008 signed between Cineyug Films and Kalaignar TV.”

They said: “The entire transaction was transparent and made only through bank. There was no attempt to conceal the same. The fact that the amounts were paid much later after the grant of licences clearly indicates that the said payments did not have any connection with the grant of spectrum licences as alleged.”

In the name of democracy (in fact it is demonstration of craziness), everyone is asking several questions. I see the entire episode of corruption, arrests, supreme court acts, CBI investigation, government behavior everything is a total conspiracy (whether knowingly interconnected/orchestrated or not). I think every law abiding, tax paying citizen wants to know is whether the money involved will be received in Government Coffer/treasury. If not, whatever is spent for above drama is one more drain. Actually, whatever happens is deserved by ignorant Indians.

from:  Lakshminarayanan
Posted on: Jul 12, 2011 at 11:27 IST

SC should drive CBI and spl court to expedite the investigation and set timelines to bring the culprits to books. As it happens in every case, we are sick of waiting for judgements for life time.

from:  Kumar
Posted on: Jun 14, 2011 at 15:00 IST

It is being made out that the sole decision maker in the 2G spectrum pricing and allocation was A.Raja. Neither the Prime Minister nor the Cabinet who have oversight over decision making by individual ministers have said publicly that A.Raja acted in the matter without their knowing it or without their permission. Without getting statements from them, can the CBI conclude that A.Raja acted purely in his personal capacity. Will circumstantial evidence alone be sufficient to prove Raja's alleged crime? Even if Raja is the only one responsible, where is the proof that he received a bribe? Even if he received a bribe, why should he want the bribe money to be given by the briber to a TV channel partly owned by Kanimozhi, a public figure? Will anyone with a modicum of intelligence have acted in that manner? One wonders whether CBI has convincing answers to these questions.

from:  K.Vijayakumar
Posted on: Jun 14, 2011 at 12:27 IST

The words said by the justice is really true.... ie... Corruption is the worst form of violation of human rights.... The accused should be punished. Why there is a delay...

from:  Sivaranjani
Posted on: Jun 14, 2011 at 09:23 IST

There is absolutely no point in knifing the wound. The concerned persons have already suffered enough punishment by the electorate and the media.Their families have not committed any crime. Why should a ten year old boy suffer torture? A little amount of magnanimity is the need of the hour. How is it that Niira Radio is allowed freedom? Is she not influencing people? Was she not instrumental in spreading corruption? In the name of justice, can anyone play with the lives of families? In the name of governance, can an administration encroach upon the freedom of the individual by tapping people's telephonic conversations?

from:  Venkatachalam
Posted on: Jun 14, 2011 at 08:14 IST

200 crore-with no explanation. Wow. The day of the arrest CBI should have seized the money. Great work. I regret for all the tax payers who work and shed their blood out to pay taxes. Leaders and investigative authorities have shown their competitiveness.

from:  Marudha
Posted on: Jun 14, 2011 at 04:34 IST

This itself shows the indications that MK daughter KM will not be granted bail.

from:  Ram R
Posted on: Jun 14, 2011 at 01:34 IST
Show all comments
This article is closed for comments.
Please Email the Editor

Avian Influenza Outbreak

More Avian Influenza Outbreak »


Tamil Nadu

Andhra Pradesh





Recent Article in National

Prime Minister Narendra Modi told the House that India had conveyed to Pakistan in the “strongest possible words” its shock at this development.

LS condemns Lakhvi bail

liftout tag with dummy text liftout tag with dummy text liftout tag with »