Asif Balwa, Agarwal remanded in CBI custody till April 1
“Both the accused are remanded in police custody till April 1,” Special CBI Judge O. P. Saini said.
The CBI sought their remand for custodial interrogation, saying they were not revealing “the true facts and circumstances of the criminal conspiracy which led to the transfer of Rs. 200 crores to the bank accounts of Kalaignar TV Pvt. Ltd.”
CBI prosecutor Akhilesh told the court that both the accused were instrumental in transferring Rs. 200 crores to Kalaignar TV Pvt. Ltd. through the bank accounts of Cineyug Films Pvt Ltd.
Mr. Agarwal and Mr. Asif Balwa were directors of Kusegaon Fruits and Vegetables Pvt. Ltd. Mr. Asif Balwa was also Director of DB Realty Pvt Ltd (a partner of Dynamic Realty). Mr. Asif Balwa’s cousin Mr. Shahid Balwa is presently lodged in judicial custody for his alleged involvement in the 2G spectrum scam.
The probe agency told the court that an agreement dated December 19, 2008 was “purportedly executed between Cineyug films Pvt Ltd and Kalaignar TV Pvt Ltd which has not yet been made available by the two accused.”
Appearing for both Mr. Asif Balwa and Mr. Agarwal, advocate Vijay Agarwal contended that the CBI is only targeting his clients and they have not touched any other telecom operator in this case.
He said the transaction of money, on the basis of which the CBI has arrested his clients, took place a year after the grant of 2G licences.
Advocate Agarwal also questioned the CBI’s probe, saying the agency is only arresting those persons who have allegedly given the money and no action has been taken against those who have taken the money.
“I should not have been arrested just because I (Mr. Asif Balwa) am Shahid Balwa’s cousin and director of DB Realty. The CBI is only after me and they are not examining the roles of other telecom operators,” he alleged.
The CBI, however, submitted that it is a case of criminal conspiracy and names of people are coming one by one.
Mr. Asif Balwa and Mr. Agarwal were arrested on Tuesday after the CBI conducted searches at the premises of Dynamic Realty, Kusegaon Fruits and Vegetables Pvt Ltd and Cineyug films Pvt Ltd in Mumbai and claimed to have seized some documents.
The two were summoned to the CBI headquarters at Delhi for their interrogation on Tuesday after which they were put under arrest.
With the two new arrests, the number of people taken into custody in the 2G spectrum scam has gone up to six which includes former Telecom Minister A. Raja, his personal aide R. K. Chandolia, former Telecom Secretary Siddartha Behura, besides Shahid Usman Balwa.
Mr. Raja along with Mr. Behura and Mr. Chandolia were arrested by the CBI on February 2 and Mr. Shahid Balwa was arrested from Mumbai on February 8. They are presently in judicial custody.