New Delhi: Shahid Balwa, an accused in 2G scam, on Monday termed as "ridiculous and absurd" CBI's allegation that he, despite being a "blue-eyed boy" of the former Telecom Minister A Raja, paid Rs 200 crore bribe to DMK-run Kalaignar TV for undue favours.
"It is not the case that Shahid acted for everybody. What about others? Did they get the reward free? What minister (Raja) is he that he got only his blue-eyed baby to pay money for all"?
"Look at all the other beneficiaries. They are greater than us in size, power, strength. May be, because of that, they are not touched by CBI," Majeed Memon, counsel for Balwa, told Special CBI Judge O P Saini.
CBI alleged Balwa, whose firm Swan Telecom got 2G licenses, paid Rs 200 crore bribe to Kalaignar TV through his various firms.
Centre approved sale of equities to foreign firms: Balwa
Shahid Usman Balwa on Monday told a Delhi court that the Centre since
1996 has been approving sale of equities to foreign firms as they
brought foreign direct investments.
"The Union of India has itself said that 1996 onwards various companies
have used share dilution. Then, why am I (Swan) being questioned and
slapped with serious charges." "Etisalat is a foreign government-owned
company. If we expand our business with the aid of such a company, far
from being rewarded, we are being put in jail. What message are we
sending to foreign investors?," Majeed Memon, appearing for Balwa, told
Special CBI Judge O P Saini.
CBI has alleged Swan Telecom, within days of getting the 2G licenses,
off-loaded its shares to Dubai-based Etisalat and earned huge profits.
He also said corporate lobbyist Niira Radia was only made a witness and
not only that, Datacom, the single largest beneficiary of alleged scam,
was not even questioned. Without naming the present Telecom Minister,
Balwa said the "actual loss due to licence distribution in 2008 was
nil."
"CBI has ignored the statement of current Communication Mminister and
even that of the Prime Minister who had said on the floor of the House
as late as February 24, 2011, that there is no loss".
"CBI thought of statistics but forgot that certain policies are
welfare-driven. It is the stand of the government that if spectrum is
auctioned to the highest bidder, he would pass on the burden to
consumers," he said.
Tata "highest" contributor in "so-called" huge loss
Shahid Balwa on Monday accused the Tata as the "highest contributor" in
the "so-called" loss of over Rs 30,000 crore to the state exchequer in
the award of licenses for the spectrum.
"Due to Tatas, the exchequer suffered a loss of Rs 4,930 crores while
Swan Telecom is placed seventh in the alleged list with its
contribution Rs 2,624 crores," Majeed Memon, advocate for Balwa, told
special CBI Judge O P Saini. "The highest contributor of loss is Tata.
Somebody came before this court with a ground to implead Tata so that
the matter can be decided fairly but the application was rejected and
penalty was also imposed. All the nine applicants, among which the 122
licences for 22 circles were distributed, have not been charge
sheeted," Memon said.
During the hearing, Balwa advanced arguments himself for around five
minutes to accuse Tata of having sold the equities and earning a
"windfall profit".
"Tata was the only company to sell secondary equity. They earned Rs
12,000 crore from it, out of which Rs 3,000 crore went into Tata Sons'
pocket while only Rs 9,000 crore were put into the company," Balwa
alleged.
"Every other company, including Swan and Unitech, diluted their equity
and the entire money has gone into the company for rolling out
services, infrastructure purposes and expanding business. Even then, we
are being accused of making windfall profit.
PTI
