DB realty's Managing Director arrested

He allegedly helped Raja park kickbacks from the scam in real estate; group's Rs 209 cr investment in DMK-backed Kalaignar TV is also under the scanner IN a late-evening operation, a CBI team from Delhi arrested Dynamix Balwas (DB) group Managing Director Shahid Usman Balwa in connection with the 2G spectrum scam.Rishi Raj Singh, joint director, CBI (Mumbai) confirmed Balwa's arrest at 12.30 am. Yes, the CBI has arrested him. u00a0Balwa's lawyer, Satish Maneshinde, and his relatives (right) at the CBI headquartersThe 2G spectrum scam case is being investigated by the Delhi CBI. We just assisted them. Balwa will be produced in a Mumbai court and will then be taken to Delhi.According to CBI officials, Balwa is a close aide of former telecom minister A Raja and helped him park a large chunk of alleged kickbacks from the scam in the real estate sector.The Delhi CBI team, which has been in the city for a few days, had been scrutinising financial details of the DB group before visiting Balwa's office in Goregaon and his residence in Bandra, from where he was arrested.Officials said the CBI has also been examining an alleged transfer of Rs 209 crore by the group to Kalaignar TV, in which family members of DMK chief and Tamil Nadu CM M Karunanidhi have a majority stake.Raja had allegedly helped Swan telecom, floated by DB Realty, bag 2G licences for 13 circles, including Mumbai and Delhi, for Rs 1,537 crore.u00a0The group then, however, sold 45 per cent of its shares to UAE telecom giant Etisalat for approximately Rs 4,500 crore within months of bagging the spectrum.Balwa is the fourth person to be arrested in connection with the case, after Raja, his former personal secretary RK Chandolia and former telecom secretary Siddharth Behura. He will be taken to Delhi on a transit remand today.Advocate Satish Maneshinde visited the CBI headquarters at Tanna house around 1.15 am. He confirmed that he would be representing Balwa in court today.

DB realty's Managing Director arrested

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