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Fund to Kalaignar TV: CBI to quiz UB Group, India Cements

Bapun Raz

Staff member
Community Manager
3 Nov 2010
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New Delhi, Jun 24: CBI will seek clarification from UB Group and India Cements over money given by them to Kalaignar TV to apparently help the channel return over Rs 200 crore allegedly received by it from DB Group of companies in return for allocation of 2G spectrum.

The agency, which may file another chargesheet in the 2G spectrum allocation scam in the first week of July, is looking into financial trasactions of Kalaignar TV in which DMK MP Kanimozhi and Managing Director Sharad Kumar are stakeholders, sources said.

Both are currently lodged in Tihar jail for their involvement in the scam.

Top CBI sources said during the probe it has come to know that some payments made by UB Group and India Cements to the Tamil channel which, according to the agency, were to help it return the money received from Cineyug and a clarification will soon be sought from both the companies.

Sources, however, said that seeking clarification does not mean that some criminality has been identified.

When contacted, India Cements Vice-Chairman and Managing Director N Srinivasan said he was not aware of the development.

"The UB Group would like to clarify that the only commercial transaction that it has with Kalaignar TV is a regular advertising contract which is in the ordinary course of business.

"Any speculation or suggestion of any other financial transaction in the nature of a loan to Kalaignar TV is completely untrue. We would be happy to clarify the same if and when any agency contacts us," Prakash Mirpuri, Vice President - Corporate Communications said in a statement.

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