Balwa induction on Swan board fishy, feels CBI
15 Feb 2011
Investigations into the 2G spectrum scam by the Central Bureau of Investigation show that it was apparently ''…more than mere coincidence'', that DB Realty boss Shahid Usman Balwa joined the board of Swan Telecom as a director on 1 October 2007, which was the last date for receipt of applications for allocation of 2G spectrum.
This has been revealed by a national daily, the Indian Express, which quotes the Central Bureau of Investigation.
Balwa was joined on the board of Swan by his brother, Asif Balwa.
The report also says that CBI's investigations is understood to have discovered a second company, other than Swan, through which Balwa apparently helped route cash into Tamil Nadu chief minister and DMK boss M Karunanidhi's family-backed Kalaignar TV.
These funds are suspected to be part of the alleged kickbacks received by DMK party man and former telecom minister A Raja, CBI officials said.
Balwa has told investigators that he met Raja through his alleged front man AM Sadhick Batcha, managing director of Chennai-based real estate firm Green House Promoters, in 2006, when Raja was the environment minister.
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