2G: ED to attach properties worth Rs 223 crore

Agency makes CBI charge-sheets basis for the report

PTI | January 10, 2012



For the first time in the 2G scam case, the enforcement directorate will attach immovable property worth Rs.223 crore of five companies in connection with the alleged bribe of Rs 200 crore paid to Kalaignar TV after an anti-money laundering court on Tuesday gave its nod.

The competent authority under the Prevention of Money Laundering Act (PMLA) approved the ED order for attachment after hearing the arguments of all the parties.

"The attachment order has been upheld by the PMLA court here," official sources said.

The value of properties attached of these companies are Dynamix Realty (Rs 134 crore), Conwood Construction and Developers (Rs 22 crore), Nihar Constructions (Rs 1.10 crore), DB Realty (Rs 52 crore) and Eversmile Construction Company (Rs 13 crore).

The agency had made the CBI charge sheets in this regard as the basis for this order.

"As per the charge sheets of CBI, a bribe of Rs 200 crore was given by Swan Telecom Pvt. Ltd. (now M/s Etisalat DB Telecom Pvt. Ltd.) to Kalaignar TV through a number of intermediary companies in the garb of loan or share application money. However, the same was returned to Dynamix Realty (a company of Shahid Usman Balwa and Vinod Goenka)," ED had earlier said in its order.

"The details of the charge sheets show disclosures made by the intermediary companies in the movement of the bribe money under the garb of loan or share application money do not substantiate genuine and bonafide financial transactions," the order said.

Comments

 

Other News

The Constitution cannot be altered: Justice Abhay Oka

Justice Abhay Oka, who retired from the Supreme Court in May 2025, has said that the Constitution of India cannot be altered. Explaining the landmark Kesavananda Bharati judgment (1973) on the basic structure of the Constitution, he said, “This is one judgment that has saved democracy in India.&rdq

How the flora and fauna evolved in the Indian subcontinent

Mammals of India  By A.J.T. Johnsingh and P.O. Nameer HarperCollins India in association with Bombay Natural History Society  

India`s renewable race is moving beyond megawatts

When Shell bought Sprng Energy in 2022, India`s renewable energy market appeared to offer precisely what global energy majors were seeking: scale, growth and a place in one of the world`s largest energy transitions. Four years later, Shell is selling the same business to Aditya Birla Group for an enterpris

Nepal Floods: India keeps close watch on the situation

India`s central government has been keeping a close watch on the situation arising out of the flash flood in Nepal on Wednesday. Union home minister Amit Shah spoke with the chief ministers of Bihar and Uttar Pradesh, the two states that share the border with Nepal, regarding the disaster

UPI completes 10 years of digital payments revolution

The Unified Payments Interface (UPI), launched on August 25, 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), has completed 10 years of transforming digital payments in India. UPI has emerged as the backbone of India’s digi

Here’s an I.D.E.A. for career growth and success

Success in today’s professional organisation is no longer solely determined by academic qualifications, technical expertise or years of experience. While these attributes do matter, organisations increasingly value individuals who demonstrate the right mindset and behavioural qualities. The ability

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter