Mr.Shahid Usman Balwa, an accused in the 2G spectrum allocation scam and promoter of DB Realty and Swan Telecom, is in fresh trouble. The CBI (Central Bureau of Investigation) has started an investigation against Balwa for misusing loans.
Recenty the CBI’s bank security and frauds cell (BS&FC) registered the preliminary inquiry report.
The CBI suspects Balwa of taking Rs180 crore as loan from LIC Housing Finance and paying it quid pro quo to DMK’s Kalaignar TV. In exchange, Balwa got licence to provide unified access service (UASL). A Raja, accused in the 2G scam, was then the telecom minister.
The CBI is also investigating the role of TS Vijayan, MD of LIC Housing Finance. LIC officials connived with private companies, including DB Realty, to get loans disbursed in the name of housing projects.
Apart from DB Realty, there were about five companies, which had the same modus operandi: using housing loans for other business interests.
Recenty the CBI’s bank security and frauds cell (BS&FC) registered the preliminary inquiry report.
The CBI suspects Balwa of taking Rs180 crore as loan from LIC Housing Finance and paying it quid pro quo to DMK’s Kalaignar TV. In exchange, Balwa got licence to provide unified access service (UASL). A Raja, accused in the 2G scam, was then the telecom minister.
The CBI is also investigating the role of TS Vijayan, MD of LIC Housing Finance. LIC officials connived with private companies, including DB Realty, to get loans disbursed in the name of housing projects.
Apart from DB Realty, there were about five companies, which had the same modus operandi: using housing loans for other business interests.
No comments:
Post a Comment