2G scam: Shahid Balwa’s brother Asif arrested
March 29th, 2011 - 2:35 pm ICT by ANIMumbai, Mar 29 (ANI): The Central Bureau of Investigation (CBI) on Tuesday arrested two persons including Asif Balwa, the brother of DB Reality and Swan Telecom promoter Shahid Usman Balwa in connection with the 2G spectrum scam.
Asif and Rajiv Agarwal are the directors of Kusegaon Fruits and Vegetables Pvt Ltd, which reportedly loaned Cineyug a sum of Rs 212 crore. But it was not a straightforward loan and had passed through a maze of transactions.
Shahid Balwa was arrested in February 8, for his alleged involvement in the 2G spectrum scam. He is currently lodged in the Tihar jail.
Swan Telecom is believed to be one of the beneficiaries in the spectrum allotted during former Telecom Minister A Raja’s tenure, who was arrested prior to Balwa and is locked in the same jail.The others arrested in connection with the case are Raja’s personal secretary RK Chandolia and former Telecom Secretary Siddharth Behuria.
Raja was forced to resign from the Union Cabinet last year after the Comptroller and Auditor General of India (CAG) faulted him for undervaluing spectrum to favour companies who were largely ineligible for 2G spectrum, and added that the government had probably lost Rs.1.76 lakh crore in estimated revenue. (ANI)
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- 2G scam: Judicial custody of Raja, three others extended till Mar. 31 - Mar 17, 2011
- 2G scam: Pawar denies reports alleging links to DB Realty - Apr 14, 2011
- Kalaignar TV defends 2G spectrum deal - Feb 11, 2011
- Arrest Kanimozhi, cancel Kalaignar TV's license: Jayalalithaa - Apr 25, 2011
- 2G scam: CBI gets transit custody of Shahid Balwa - Feb 09, 2011
- 2G scam: Niira Radia appears before PAC - Apr 04, 2011
- 2G scam: Ratan Tata, Radia to appear before PAC - Apr 04, 2011
- 2G scam: Ratan Tata appears before PAC - Apr 04, 2011
- 2G scam: CBI Director appears before PAC - Mar 10, 2011
- 2G case: No bail for Balwas, Rajiv Aggarwal (Lead) - May 24, 2011
- No summons by CBI in 2G scam, says Kanimozhi - Feb 18, 2011
- 2G scam: Raja remanded to CBI custody for four more days - Feb 10, 2011
- 2G scam: Raja to appear before court via video-conferencing - Mar 01, 2011
Tags: beneficiaries, cbi, central bureau of investigation, comptroller and auditor general, comptroller and auditor general of india, crore, favour, fruits and vegetables, maze, personal secretary, promoter, pvt ltd, raja, rajiv, rk, siddharth, spectrum, tihar jail, two persons, union cabinet