New Delhi: The Enforcement Directorate (ED) on Monday told a special court hearing a money laundering case related to allocation of 2G spectrum that former telecom minister A. Raja had conspired with other accused to grant telecom licences to ineligible firms.
For this, Rs.200 crore was paid by promoters of Swan Telecom Pvt. Ltd., using their group entity Dynamix Realty, to Kalaignar TV, through Kusegaon Realty Pvt. Ltd. and Cineyug Media and Entertainment Pvt. Ltd. (Cineyug Films), ED’s Special Public Prosecutor Anand Grover told Special Judge O.P. Saini during final arguments in the case.
This amount was given in the garb of legitimate financial transaction, that is as loan/share application money, he added.
Grover further said that the payment was in reality illegal gratification for and on behalf of Raja and his associates in lieu of illegal favours extended to the STPL for the grant of Unified Access Services (UAS) licence.
The ED further said that its investigation has revealed that the return of Rs.200 crore has been shown along with an additional sum of money in order to show this illegal payment as legal and bona fide financial transactions.
The amount was returned on the date Raja was summoned for questioning by the Central Bureau of Investigation.
After hearing the prosecution for a while, the court posted the matter for July 27 for further arguments.
Along with Raja, DMK chief M. Karunanidhi’s wife Dayalu Ammal and others are facing trial in the money laundering case relating to the allocation of 2G spectrum.
The accused have been booked under various sections of Prevention of Money Laundering Act (PMLA).
Ahmedabad, October 13, 2017 : Breaking his silence, BJP president Amit Shah rejected allegations of money laundering against his son Jay Shah whose company had reportedly recorded an extraordinary spike in business after the BJP came to power at the Centre, and asserted that it had not done any business with the government nor taken any kickbacks.
He also said that unlike the Congress, which had faced many corruption charges in the past, his son has shown courage to file a civil and criminal defamation suit on the allegations levelled against him and “invited a probe against himself” by this step.
“There is no money laundering involved in Jay’s company. This company is completely in commodity business, where turnover is more while the profit is less. We have exported bajra, corn and rice while coriander was imported. And after doing a turnover of Rs 80 crore, they don’t tell how much they made profit,” Amit Shah said at an “India Today” event “Gujarat Panchayat”.
Answering questions, he said that after making a turnover of Rs 80 crore, Jay made a loss of Rs 1.5 crore. “Where has money laundering been done? All the transactions happened through cheques and banks,” he said.
Asked about Jay Shah filing a defamation suit against the publication, Shah said: “Before answering your question I would like to ask you one thing. After Independence, how many corruption charges have been made against the Congress?
“Please understand this is not corruption. Many allegations of corruption were made against the Congress. Did it ever file a civil suit or defamation suit? No. Why they lacked such courage? Today Jay has filed a defamation as well as civil suit and is demanding a probe himself. Those who have the evidence can submit it to the court, and then the court will decide,” the BJP president said.
He said: “We have ourselves invited a probe and on the company issue I want to clarify that it has not done business with the government of even Re 1 nor taken any government land or tender. Neither has it received kickbacks as in the case of Bofors.”
When asked about Jay’s company securing unsecured loans, Shah said it was not unsecured loans. “It was a line of credit,” he added. (IANS)
Saudi Arabia, September 22, 2017: Saudi Arabian government as part of economic reforms is to lift the ban on calls through networking apps Skype and WhatsApp, but will keep an eye on all the calls as stated by the government spokesperson.
The government in order to transform its economy that aids in enlargement of the business and broaden the economy to the low price of oil plans to provide access to other video and audio call services including Facebook messenger and Viber that fulfills the necessities of the regulation of the authorities.
The spokesperson of telecoms regulator of Communications and Information Technology Commission (CITC), Adel Abu Hameed through, Arabiya TV said the idea behind imposing the regulation is to keep away the content that violated the laws of the region and also to keep intact the personal information of the user.
He also added that the apps, both local and global cannot be used in any way without being censored by CITC or monitoring.
The government although have not made it clear as to how they are going to undertake this regulation on end-to-end encryption apps like WhatsApp which do not allow anyone to read the customers’ messages event after the enforcement of the law.
Saudi Arabia banned the widely used services for internet communication from 2013 onwards stating them to be used by the activists against for the norms of the government. The government still keep a check on the restricted content such as gambling sites, pornography, and extremist material.
At the end of May 2017, Saudi Arabia blocked the access to the website of Al Jazeera after the country put an end to all the Qatar links over supporting terrorism and having ties with Iran.
However, it is believed that reversing the Saudi Arabian ban can adversely affect the three main telecom operators – Saudi Telecom Co (STC), Etihad Etisalat (Mobily) and Zain Saudi of Saudi Arabia, which has been generating major revenue from international calls.
The Gulf Arab neighbours have also raised concerned about the security in the usage of internet communications.
Censorship over internet increased in Saudi Arabia after ‘Arab Spring’ uprising in 2011.The authorities also claim that they have been using the IP addresses to block around 400,000 websites that could harm the public interest.
– prepared by Abhishek Biswas of NewsGram Twitter: @Writing_desire
After a case against NDTV founders had been registered, the CBI raided the residence
The raids prompted the NDTV to respond by alleging that the investigating agency is acting “under pressure” and further calling the fiasco a ‘witch-hunt’
The case has been registered by the Banking Fraud Division of the CBI alleging the NDTV founders for defrauding the ICICI Bankalong with other violations
So the Central Bureau of Investigation (CBI) registered a case against NDTV founders – Prannoy Roy and wife Radhika Roy- on the 5th of June, 2017. Consequently, a day after, the investigative agency also raided the residences of Prannoy Roy and his wife, along with four other premises in Delhi and Dehradun belonging to promoters. Cases have been registered against their company RRPR Holding Ltd as well as ICICI Bank officials.
The FIR has been filed by Sanjay Dutt, a former consultant at NDTV. The NDTV is also being investigated by Income Tax Department and Enforcement Directorate when it was discovered that NDTV received funds from a foreign institution but settled the account at 80% less than the actual amount received.
The case comes as a consequence of an allegation against the founders for causing over Rs. 48 crore losses to ICICI bank. They are booked under the Indian Penal Code and Prevent of Corruption Act for criminal conspiracy, cheating, and criminal misconduct.
The ICICI had given the founders’ private holding company-RRPR Holding Private Ltd-a loan of Rs 366 crore. The Roys had guaranteed their NDTV shares at a price more than the prevailing price at Bombay Stock Exchange (BSE).
The loan was closed within a year, however, the interest was waived off resulting in a loss of Rs 48 crores for the bank. The equivalent amount was moved out of the holding company’s bank account.
The FIR report explicitly states that NDTV as well as ICICI “entered into a criminal conspiracy to transfer ownership of a news company, i.e NDTV, to a shell company against banking rule and SEBI Act.”
On the basis of last year’s letter by the Enforcement Directorate to the CBI showcasing irregularities by the ICICI bank, a FIR was registered.
The NDTV responded by calling the whole incident a ‘witch-hunt’ after stating that the founders have not defaulted any loans. The media organization has called Dutt’s allegations false. The NDTV and its allies have countered this as an attack on free speech.
The NDTV issued a statement calling this whole incident a ‘witch-hunt’ and a political attack on the freedom of speech. It also argued that the CBI has no jurisdiction to investigate such matters that concern the private banks and EVEN IF there has indeed been a loss incurred. CBI, in counter, has cited the example of ‘CBI vs Ramesh Gelli’ case which was ruled in the favor of the investigating agency. CBI has the right to investigate the matter.
It is worth noting that the CBI is not just investing the loan default case but violations of SEBI guidelines and RBI rules. NDTV’s decision to address the CBI as “acting under pressure” is shameful.
Dutt has also claimed that the collateral shares that the Roys had guaranteed were never notified to stock exchanges and SEBI. SEBI has also initiated a probe.
The priority of the investigation is to explore “wrongful gain” of Rs 48 crores to the Roys and their holding company. That clearly implies how NDTV’s claim that this whole fiasco is an “agenda” is simply not true.
NDTV and allies that have been questioning the investigations must understand deeper forms of suspicion that have surrounded the transactions.
Manisha Pande, from Newslaundry, has explained with the remarkable simplicity about the essential factor that investigations are to keep in mind. So RRPR, the holding company, received Rs. 403.85 crores from a shell company- Vishwapradhan Commercial Private Ltd. Now this shell company had received this same amount from Shinano Retail as a loan. The Shinano Retail is fully owned by Reliance Industrial Investments and Holding which received this same loan from the main source Reliance Ventures Ltd, subsidiary of Reliance Ltd.
Hence, Dutt urges to find out “who is the true owner of NDTV?” by calling it, what many would agree, a Hawala (money laundering) transaction.
Manisha Pande has thus rightly pointed out the “investigation cannot start and end at NDTV.” She continues “CBI would have to probe some other important people” especially since the trail points to other noticeable direction.
It is also worth noting how NDTV had been enjoying heavenly fortunes when the UPA came to power. The company raised $417 million in different parts of the world through 20 wholly-owned subsidiaries.
Therefore, while the mainstream media and Twitterites will continue to raise and justify political factors, continuing with their blame game and bargaining, at the end of the day it is the law which is over everything. The law and justice must prevail. None of the facts point to the CBI trying to “silence the media under pressure”.
– by Saksham Narula of NewsGram. Twitter: @Saksham2394