Business Standard

Final arguments concluded in money laundering case

IANS  |  New Delhi 

Both the prosecution and the defence in a money laundering case related to 2G spectrum allocation, in which former Telecom Minister A. Raja is an accused, concluded their respective arguments in a special court here on Wednesday.

"Final arguments of both parties stand completed," Special Judge O.P. Saini said and listed the case for April 25.

"... rebuttal arguments for prosecution relating to the transaction of Rs 200 crore heard almost through the day, and stand completed," the court said.

Raja, along with DMK chief M. Karunanidhi's wife Dayalu Ammal and others, is facing trial in the money laundering case registered under the Prevention of Money Laundering Act.

The Enforcement Directorate (ED) has claimed enough evidence against Raja and other accused in the money laundering case.

The ED has accused Raja of conspiring with his co-accused in illegally granting telecom licences to ineligible firms.

For this, the ED said, Rs 200 crore was paid by the promoters of Swan Telecom Pvt. Ltd., using their group entity Dynamix Realty, to Kalaignar TV, through Kusegaon Realty Pvt. Ltd. and Cineyug Media and Entertainment Pvt. Ltd. (Cineyug Films) in the garb of legitimate financial transaction, that is, as loan/share application money.

The ED said that the payment was illegal gratification for Raja and his associates in lieu of the illegal favours extended to the STPL for the grant of Unified Access Services licence.

The ED further said that its investigation had revealed that the return of Rs 200 crore has been carried out along with an additional amount to project this illegal payment as legal and bona fide financial transaction.

The amount was returned on the date Raja was summoned for questioning by the Central Bureau of Investigation.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 19 2017. 19:20 IST