NEW DELHI – Even as the CBI is probing the alleged bribe of Rs 200 crore paid to former telecom minister A Raja by Shahid Balwa of DB Realty group through Kalaignar TV, the agency is on the trail of another Rs 250 crore which was transferred to the tax haven of Isle of Man reportedly as quid pro quo by the Unitech group. Unitech group has already been chargesheeted by CBI in the 2G spectrum scam case.
The agency recently filed an application in the special CBI court seeking permission to probe a transfer of approximately $51 million (over Rs 250 crore) by Unitech in Isle of Man and was granted permission. The agency is reportedly preparing to send a letter rogatory to get details of the company in which the transfer was made.
Sources said the transfer was made sometime in December 2007, when 2G spectrum and licences were allocated to the company. “Unitech Overseas Ltd invested $51 million in ‘one yield enhancement certificate’ and Mauritius-based companies were involved in this deal,” a CBI source said.
Sources said this transfer was suspicious as Unitech Overseas Ltd had a paid up capital of only 2,000 pounds initially but received share application of $51 million in December 2007. In January 2009, CBI said, Unitech showed complete loss and showed ‘zero’ against the investment of $51 million in its books.
“This seems to be a ‘dubious’ deal, as Unitech Ltd board had made no resolution for transferring such a huge amount of money (Rs 250 crore) to Unitech Overseas Ltd in the Isle of Man,” said an officer.
The Enforcement Directorate is also reportedly probing this transfer.
