The Enforcement Directorate (ED), probing the 2G spectrum scam, is expected to attach properties worth Rs 200 crore of companies allegedly associated with telecom promoter Shahid Balwa either on Tuesday or Wednesday.
Sources in the agency said, “A formal order in this regard is expected on Tuesday. The attachment process will begin immediately after the formal order from the headquarters of the ED”. Properties which will be attached include bank accounts and immovable assets of the companies allegedly associated with Balwa, sources added.
The CBI probe into the 2G spectrum scam has already revealed that Rs 200 crore was paid to Chennai-based TV channel through Kusegaon Vegetable and Fruits private Ltd and Mumbai-based Cineyug films. The probe has also revealed that Rs 200 crores paid to Kalaignar TV was not a “genuine business transaction” but “it was in the nature of illegal gratification” paid in lieu of the spectrum licences given by A. Raja to Shahid Balwa’s Swan Telecom.
“The ED officials have identified the properties which will attached. The movable assets, to be attached, are located in Mumbai and some other parts of the country”, sources said. The Enforcement Directorate officials have also identified sources from where `200 crore was routed for transferring to Kalaignar TV. The agency officials are also probing the alleged violation of Foreign Exchange Management Act by the companies who allegedly transferred Rs 200 crore to Kalaignar TV.