Trailing Rs 200 cr to nail the 2G scam

* The subscription and shareholder agreement between Cineyug Films and Kusegaon Fruits & Vegetables Ltd was signed on January 27,2010 — after the case was registered and raids conducted at premises of various companies.

* The subscription and shareholder agreement between Cineyug Films and Kalaignar TV has not been produced by any party. The photocopy made available is not on a stamp paper and prepared only to misled the investigation and create a false justification for said payments.

There was no collateral security taken by various companies for loan of such a huge amount of Rs 200 crore. When the loan was executed,the entire paid-up equity of Kalaignar TV was Rs 10.01 crore and its turnover for year ending March 31,2009 was only Rs 47.54 crore. The paid-up equity of Cineyug Films and Kusegaon Fruits & Vegetables on the same date was only Rs 1 lakh each.

* The entire amount of Rs 200 crore was paid by Dynamix Realty to Kalaignar TV through these intermediaries during December 23,2008 to August 7,2009 took place after the offshore investment in Swan Telecom from Etisalat Mauritius Ltd and Genex Exim Venture Pvt Ltd.

* Cineyug Films charged mere 7.5 per cent to 10 per cent interest rate from Kalaignar TV,as against 13 per cent,the rate at which the latter took loan from Indian Bank,Chennai.

* None of the company involved in the entire transaction had the main objective of lending money or held the status of non-banking finance company. Giving loan was contrary to the main objective of Kusegaon Fruits & Vegetables Ltd or Cineyug Film,which was to carry on the business of farming and agriculture or cinematography,said the chargesheet.

The amount of interest earned out of these transactions is a large proportion of the entire revenue of Kalaignar TV,and as regards Cineyug Films and Kusegaon Fruits & Vegetables almost entire earnings are out of these transactions.

* Dynamix Realty,a partnership firm,was formed to develop a slum rehab project in Mumbai. Its partnership deed did not provide for any project related to agriculture or cinematography.

* DB Realty,through its subsidiary Eterna Developers Pvt Ltd,transferred Rs 1.25 crore to Green House Promoters Ltd on September 29,2008,in connection with advance for a land purchase. While the deceased Sadhick Batcha was the director of Green House Promoters,Raja’s wife A Parameshwari and his other relatives were the other directors. Such proposed investment was not further taken up by DB Realty.