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Sun TV strongly denies any role in 2G scam

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Sun TV has strongly denied any role in the 2G scam. Speaking to CNBC-TV18, Sun TV CFO VC Unnikrishnan said neither Sun TV nor Kalanithi Maran have anything to do with 2G scam.

Shares of broadcaster fell sharply on Thursday after media reports said the founder's brother, Textiles Minister Dayanidhi Maran, was named in a lawsuit related to the 2G probe.

Saying that Sun TV has no holding in Sun Direct nor there is any relation with Maxis, which has a 20% stake in Sun Direct, Unnikrishnan said Sun TV only provides channels to Sun Direct's DTH (direct to home) platform.

Unnikrishnan further clarified pledged shares sold by IFCI were not owned by promoters. “About 11% of promoter equity pledged,” he said.

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