CBI to use DB Realty's accountant to nail his employers

CBI to use DB Realty's accountant to nail his employers

Satish Agarwal, an accountant of DB Realty Ltd, has submitted that such heavy transactions like Rs 200 crore, which was routed to Kaliangnar TV, were made only on the instructions of Goenka and Balwa, the Director and MD respectively of DB Realty.

Agarwal, who has been made as one of the witnesses in the case, has submitted how the financial transaction from various DB group companies was taking place on their instruction.
The accountant has given the money trail from Dynamix Realty, one of the many companies in the DB Group, which had from December 12, 2008 to August 11, 2009 extended unsecured loan of Rs 209.25 cr to Kusegaon Fruits & Vegetables Pvt Ltd which moved to Cineyug Pvt Ltd and ultimately to Kalaignar TV as illegal gratification for the grant of UAS licenses.

He further said the decision to extend this loan was taken jointly by Asif Balwa, who worked as the director of DB Realty from 2007 to 2009 and Rajiv Agarwal, who represented Conwood Construction & Developers Pvt Ltd, one of the partners in the Dynamix Realty, in same capacity.

Both of them have been arrested and chargesheeted by CBI.Agarwal also stated that no agreement was executed for the purpose of the said loan.

He also said though the decision to extend the loan was taken by Asif Blawa and Rajiv Agarwal, both of them used to take directions from Shahid Balwa and Vinod Goenka for such transactions

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)