Special Reports
Wednesday, August 10, 2022
  • Circulation
  • Advertise
  • About Us
  • Contact Us
Organiser
  • ‌
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Sports
  • Business
  • More
    • RSS in News
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Obituary
SUBSCRIBE
No Result
View All Result
Organiser
  • ‌
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Sports
  • Business
  • More
    • RSS in News
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Obituary
No Result
View All Result
Organiser
No Result
View All Result
  • Home
  • Bharat
  • World
  • Editorial
  • Opinion
  • Analysis
  • Culture
  • Defence
  • RSS in News
  • Subscribe
Home General

Special Reports

Archive Manager by WEB DESK
Sep 9, 2011, 12:00 am IST
in General
Share on FacebookShare on TwitterTelegramEmail

The Central Bureau of Investigation( CBI) has shamelessly stated that it is unable to track bribe money in the 2G scam case. But the truth is that the investigative agency is not looking at critical evidence and following the vital leads.

Three Chennai based persons have admitted before the CBI that they handled cash in 23 boxes on May 11, 2009 in Chennai. A car in which one box was carried, was stolen on the way when the driver had gone to the toilet. One person has disclosed that this box had Rs  four crore in it. So, on a particular day, Rs 92 crore (23 boxes x Rs four crore) in cash was transported in four different trips in the same vehicle. In the fourth trip, the vehicle was stolen along with one box in it. The vehicle was hired by Green House Promoters Pvt Ltd, a front company of former telecom minister A Raja. (See in Box one, the evidence collected by the CBI).

How many more such boxes were there in Chennai on that day? There could have been many more boxes transported on that day had the vehicle not been stolen. Which other vehicles were then used to transport the cash? From where did this huge cash come? There are some new names figuring in this episode. Why the people involved have not been arrested so far? What was the purpose of this cash? The CBI must try to find out answers to these questions.

Nearly two years have passed since the CBI filed an FIR and started investigation in the 2G scam. So far it could track only Rs 200 crore that was paid by DB Realty to Kalaignar TV, which the latter returned back with interest to DB Realty, claiming the money was a loan. This money was for the benefit of the family of M Karunanidhi, former Chief Minister of Tamil Nadu and DMK Chief, who owned Kalaignar TV. What did  Raja gain out of this scam?

Nothing in the two charge-sheets filed so far by the CBI before the trial court mention about any payment to  Raja. This looks strange. Recently, the CBI has specifically told the 2G trial court that they have not found any trail of money between Unitech Group and   Raja. This too is strange. In a scam of Rs 1.76 lakh crore, the CBI so far could track only Rs 200 crore. This Rs 200 crore came from one company – DB Realty. There were many other companies that benefitted from this scam. Is it believable that they did not provide any financial gratification to  Raja?

Raja’s front companies

The CBI has conducted raids on many front companies of  Raja, but it has so far not come out with any charge-sheet on financial irregularities. Two such companies are Green House Promoter Pvt Ltd and Shivakamam Tradings Pvt Ltd. On an analysis of the balance sheets of these companies, I found unexplainable entries.

Green House is owned by six individuals and a company called Pace Stocks & Shares Pvt Ltd (27.78 pc). This company was run by Shri Raja’s close associate Sadhick Batcha. After his death, there are only two directors in the company, one is Shri Raja’s brother, another one is his sister’s son. The company had a paid up capital of Rs five lakh in 2005, which was raised to Rs 1.3 crore in 2006 and Rs 1.8 crore in 2007. But as in 2009, it had inventories worth Rs 35.88 crore.

In 2009 and 2010, there is sudden spurt in investments of about Rs seven crore in Pace Stocks from individuals and one company named G-Tech Info Training Ltd. Pace Stocks also had certain interesting figures. Its paid up capital was Rs five  lakh till March 2009, but had money for unallocated shares application to the order of Rs 15.77 crore, and surplus reserves of Rs 1.15 crore. 

On the other hand, G-Tech is a BSE listed company. It has no promoter, and is a 100 per cent public listed company. If you download a list of persons/entities having more than one per cent share, it gives a list of only eight  people having a total 12.27 per cent equity amongst themselves with individual shares ranging from 1.21 to 1.89 per cent. If you look at its turnover, Dec 2010 quarter indicate a turnover of Rs 5.1 lakh. Imagine, this company investing Rs 6.64 crore in 2010 in Pace Stocks paying premium of Rs 1,000 per share. Such figures defy business logic.   

Nobody in the CBI has really questioned the source of money for such entries in the balance sheets of all these companies. Once they start tracking the money, they will come to know the original source of such investments.

Dr Rashmi Singh

Download Organiser App
ShareTweetSendShareSend
Previous News

Kids Org

Next News

Evangelical Christianity: Devils in high places Religion as a tool of strategic hegemony

Related News

India highlights the importance of Africa to the International Community in UN

India highlights the importance of Africa to the International Community in UN

Shinzo Abe assassination: Opposition parties probe into Church’s involvement in Japanese politics

Shinzo Abe assassination: Opposition parties probe into Church’s involvement in Japanese politics

Veer Savarkar and Tricolour Flag: Allegations and Reality

Veer Savarkar and Tricolour Flag: Allegations and Reality

Islamic Jihad Not Hamas the Most Prominent Threat to Israel from Gaza

Islamic Jihad Not Hamas the Most Prominent Threat to Israel from Gaza

SC grants bail to Varavara Rao accused in the Bhima Koregaon violence case

SC grants bail to Varavara Rao accused in the Bhima Koregaon violence case

As Bihar prepares for new Govt, old meme of Nitish Kumar and Lalu Yadav goes viral

As Bihar prepares for new Govt, old meme of Nitish Kumar and Lalu Yadav goes viral

Comments

The comments posted here/below/in the given space are not on behalf of Organiser. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

India highlights the importance of Africa to the International Community in UN

India highlights the importance of Africa to the International Community in UN

Shinzo Abe assassination: Opposition parties probe into Church’s involvement in Japanese politics

Shinzo Abe assassination: Opposition parties probe into Church’s involvement in Japanese politics

Veer Savarkar and Tricolour Flag: Allegations and Reality

Veer Savarkar and Tricolour Flag: Allegations and Reality

Islamic Jihad Not Hamas the Most Prominent Threat to Israel from Gaza

Islamic Jihad Not Hamas the Most Prominent Threat to Israel from Gaza

SC grants bail to Varavara Rao accused in the Bhima Koregaon violence case

SC grants bail to Varavara Rao accused in the Bhima Koregaon violence case

As Bihar prepares for new Govt, old meme of Nitish Kumar and Lalu Yadav goes viral

As Bihar prepares for new Govt, old meme of Nitish Kumar and Lalu Yadav goes viral

Journalists condemn arrest of Pakistani news channel head, call for nationwide protest

Journalists condemn arrest of Pakistani news channel head, call for nationwide protest

Evolution Of Tiranga

Evolution Of Tiranga

“If I’ve hurt anyone, I regret it,” says Aamir Khan as #BoycottLaalSinghChaddha trends relentlessly on social media

“If I’ve hurt anyone, I regret it,” says Aamir Khan as #BoycottLaalSinghChaddha trends relentlessly on social media

Anil Vij compares Nitish Kumar to “migratory bird”, says it’s his nature to jump from one branch to another

Anil Vij compares Nitish Kumar to “migratory bird”, says it’s his nature to jump from one branch to another

  • Privacy
  • Terms
  • Cookie Policy
  • Refund and Cancellation
  • Delivery and Shipping Policy

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Culture
  • Sports
  • Business
  • RSS in News
  • Special Report
  • Sci & Tech
  • Entertainment
  • Education
  • Books
  • Interviews
  • Travel
  • Health
  • Obituary
  • Subscribe
  • Advertise
  • Circulation
  • About Us
  • Contact Us
  • Privacy Policy
  • Cookie Policy
  • Terms of Use
  • Refund and Cancellation

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies