DB Realty shares plunged more than 5.5 per cent
Subsequent to Enforcement Directorate charged its join owners Mr Shahid Usman Balwa and Mr Vinod Goenka with money laundering in the 2G scam along with more than a dozen other accused, DB Realty shares plunged more than 5.5 per cent.
On the Bombay Stock Exchange, The stock ended at Rs 70.65, down 5.10 per cent. The day’s low was Rs 70.35. On the National Stock Exchange intra-day low was Rs 70.30 but closed at Rs 70.90, downhill 4.96 per cent. The share had traded at Rs 550, before the 2G spectrum scandal broke out.
The DB Realty owners who promoted Swan Telecom to succeed a pie in 2G spectrum allegedly paid Rs 200 crore to Kalaignar Television owned by influential DMK leaders in Chennai, as per the ED’s charge sheet.
The money was transferred through their other group entities Dynamix Realty and Kusegaon Fruits and Vegetables via a little known Cineyug Films as informed to the designated court gearing the 2G case.
Source: The Statesman
2G cases, Bombay Stock Exchange, Chennai, Cineyug Films, DB Realty, Dynamix Realty, ED's charge sheet, Kalaignar Television, Kusegaon, Mr Shahid Usman Balwa, Mr Vinod Goenka, National Stock Exchange
