A.Raja arrest has given a new dimension to 2G spectrum scam. Media reported 2G spectrum money invested in Kalaignar TV and CBI is investigating the money trail. In my view this goes much beyond this and proper investigation will bring them out. Here are some unanswered questions.
1. Kalaignar TV went live from concept (to live) in less than four months. Is it possible without misuse of power? (Note that Maran resigned from Cabinet on May 16, 2007 and Kalaignar TV inaugurated on Sep 15, 2007) It is also important to note that A.Raja was replaced as communication Minister after Maran's resignation.
2. The initial investment made to Kalaignar TV is mere one crore rupee with Dayalu 60%, Kanimozhi 20% and Sharad Kumar 20%. Is it sufficient capital? Where did they get the rest of the investment without equity interest? If they acquired non secured loan and what the loaners got in return?
3. Nira Radia alleges that Maran brothers paid 600 Crores to Dayalu. Maran brothers haven't denied this yet. Is that money found the way into Kalaignar TV?
4. DB Realty funneled money to Kalaignar TV through three legged transactions of 294 Crores for 30% stake which was latter converted to non secured Loan in 2009-10 which was paid back. Note that 294 Crores figures is reported by various media in wide range of 210 crores to 294 crores). DB Realty is beneficiary of 2G spectrum should be noted here. Why is this?
5. The 30% stake for 210 Crores (lowest number picked here) puts the Kalaignar TV value at 700 Crores in 2009-10. The deal fell through because they could not reach the agreeable price as per report. It may be because the valuation from Kalaignar TV side is much higher. This means one crore investment grown over 700 folds in two years time. Wow, how may of us will get this opportunity. In general, it takes few years to see any profit in high capital business like this.
6. Raj TV helped them to put together the infrastructure. They did not get any equity stake. What Raj TV got in return?
7. The Kalaignar TV bought the Rajinikanth movie "Sivaji" in May 2007 for 4 Crores even before TV was inaugurated. They bought Kamal movie "Dasavatharam" in the same year for similar amount. This is again with One Crore initial investment.
8. Kalaignar claims he owns only the house in which he lives. Dayalu Ammal is a house wife. If Karunanidhi did not provide her money, where she got the money for investment? Is it a Benami transaction? If so for whom?
9. Karunanidhi spent lot time defining the programs. If he is not having any vested interest, why should he do that. Chief Minister role is highly time consuming job and requires lot of time to administer. Is he investing time for his personal/family not focusing on public interest? Is it ethical even if it is legal?
1. Kalaignar TV went live from concept (to live) in less than four months. Is it possible without misuse of power? (Note that Maran resigned from Cabinet on May 16, 2007 and Kalaignar TV inaugurated on Sep 15, 2007) It is also important to note that A.Raja was replaced as communication Minister after Maran's resignation.
2. The initial investment made to Kalaignar TV is mere one crore rupee with Dayalu 60%, Kanimozhi 20% and Sharad Kumar 20%. Is it sufficient capital? Where did they get the rest of the investment without equity interest? If they acquired non secured loan and what the loaners got in return?
3. Nira Radia alleges that Maran brothers paid 600 Crores to Dayalu. Maran brothers haven't denied this yet. Is that money found the way into Kalaignar TV?
4. DB Realty funneled money to Kalaignar TV through three legged transactions of 294 Crores for 30% stake which was latter converted to non secured Loan in 2009-10 which was paid back. Note that 294 Crores figures is reported by various media in wide range of 210 crores to 294 crores). DB Realty is beneficiary of 2G spectrum should be noted here. Why is this?
5. The 30% stake for 210 Crores (lowest number picked here) puts the Kalaignar TV value at 700 Crores in 2009-10. The deal fell through because they could not reach the agreeable price as per report. It may be because the valuation from Kalaignar TV side is much higher. This means one crore investment grown over 700 folds in two years time. Wow, how may of us will get this opportunity. In general, it takes few years to see any profit in high capital business like this.
6. Raj TV helped them to put together the infrastructure. They did not get any equity stake. What Raj TV got in return?
7. The Kalaignar TV bought the Rajinikanth movie "Sivaji" in May 2007 for 4 Crores even before TV was inaugurated. They bought Kamal movie "Dasavatharam" in the same year for similar amount. This is again with One Crore initial investment.
8. Kalaignar claims he owns only the house in which he lives. Dayalu Ammal is a house wife. If Karunanidhi did not provide her money, where she got the money for investment? Is it a Benami transaction? If so for whom?
9. Karunanidhi spent lot time defining the programs. If he is not having any vested interest, why should he do that. Chief Minister role is highly time consuming job and requires lot of time to administer. Is he investing time for his personal/family not focusing on public interest? Is it ethical even if it is legal?
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