<p>“The plea that Rs 200 crore was advanced as loan to Kalaignar TV is nothing but a false theory, which has been propounded subsequently to create a smokescreen to conceal the actual offence,” senior advocate U U Lalit told Justice Ajit Bharihoke. <br /><br />The court, which heard arguments for over three hours, reserved the order on the bail application of Kanimozhi and Sharad Kumar, MD of Kalaignar TV.<br /><br />Both Kanimozhi and Kumar were arrested on May 20 and sent to Tihar jail here after the Special Court rejected their applications for bail.<br /><br />Minimal role<br /><br />Appearing for the Rajya Sabha MP and Kumar, senior advocate Altaf Ahmed contended that the role of the accused was “very minimal” as they are not the allottees of the spectrum.<br /><br />He also claimed that they did not cause the loss of Rs 30,000 crore to the state as claimed by the CBI in its chargesheet.<br /><br />The counsel claimed that Rs 200 crore was transferred to Kalaignar TV from DB Group as a valid loan transaction and there was nothing dubious about it.<br /><br />“It was a loan which was not appropriated and it was refunded with interest through proper banking channels. CBI is trying to make a case on my possible defence,” Ahmed claimed.<br /><br />Senior advocate Lalit, appointed as special prosecutor by the Supreme Court in the case, on the other hand, contended that there was no documentation or any security given as part of the loan while the repayment was made after former Telecom Minister was summoned in the case.<br /><br />DB Group and its intermediary companies Kusegaon Fruits and Vegetables and Cineyug Films Pvt Ltd provided Rs 200 crores to Kalaignar TV, in which Kanimozhi, her step mother Dayalu Ammal and Kumar had shares.<br /><br />The prosecutor also referred to the fact that Swan Telecom, despite being ineligible, earned huge profits by selling the shares.<br /><br />The Central Bureau of Investigation, which also filed status report on its investigation, had named Kanimozhi and Kumar in its supplementary chargesheet filed in the special Court in the case.<br /><br />Kanimozhi and Kumar were having 20 percent stake each in the TV channel with DMK chief's wife Dayalu Ammal holding the remaining 60 percent stake.<br /><br /></p>
<p>“The plea that Rs 200 crore was advanced as loan to Kalaignar TV is nothing but a false theory, which has been propounded subsequently to create a smokescreen to conceal the actual offence,” senior advocate U U Lalit told Justice Ajit Bharihoke. <br /><br />The court, which heard arguments for over three hours, reserved the order on the bail application of Kanimozhi and Sharad Kumar, MD of Kalaignar TV.<br /><br />Both Kanimozhi and Kumar were arrested on May 20 and sent to Tihar jail here after the Special Court rejected their applications for bail.<br /><br />Minimal role<br /><br />Appearing for the Rajya Sabha MP and Kumar, senior advocate Altaf Ahmed contended that the role of the accused was “very minimal” as they are not the allottees of the spectrum.<br /><br />He also claimed that they did not cause the loss of Rs 30,000 crore to the state as claimed by the CBI in its chargesheet.<br /><br />The counsel claimed that Rs 200 crore was transferred to Kalaignar TV from DB Group as a valid loan transaction and there was nothing dubious about it.<br /><br />“It was a loan which was not appropriated and it was refunded with interest through proper banking channels. CBI is trying to make a case on my possible defence,” Ahmed claimed.<br /><br />Senior advocate Lalit, appointed as special prosecutor by the Supreme Court in the case, on the other hand, contended that there was no documentation or any security given as part of the loan while the repayment was made after former Telecom Minister was summoned in the case.<br /><br />DB Group and its intermediary companies Kusegaon Fruits and Vegetables and Cineyug Films Pvt Ltd provided Rs 200 crores to Kalaignar TV, in which Kanimozhi, her step mother Dayalu Ammal and Kumar had shares.<br /><br />The prosecutor also referred to the fact that Swan Telecom, despite being ineligible, earned huge profits by selling the shares.<br /><br />The Central Bureau of Investigation, which also filed status report on its investigation, had named Kanimozhi and Kumar in its supplementary chargesheet filed in the special Court in the case.<br /><br />Kanimozhi and Kumar were having 20 percent stake each in the TV channel with DMK chief's wife Dayalu Ammal holding the remaining 60 percent stake.<br /><br /></p>
