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| Marans' Assets Seized in Aircel-Max |
| Marans' Assets Seized in Aircel-Maxis Case Include Fixed Deposit Worth 100 Crores
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| INDIA
, 1-April-2015
12:42:57 PM |
| The Maran brothers, once a powerhouse in Tamil Nadu, own assets worth hundreds of crores - 740 crores of which have been seized today as part of a money-laundering case.
The CBI says that in 2006, Dayanidhi Maran, as Union Telecom Minister, misused his office to engineer the sale of telecom Aircel to Malaysia's Maxis Group. A criminal case that accuses Mr Maran of corruption and conspiracy alleges that in exchange, Maxis paid "illegal gratification" worth more than 700 crores, a part of which was allegedly invested in a media company that is part of the Sun Group, owned by Mr Maran's brother, Kalanithi.
A separate case of money-laundering has been filed against the Marans by the Enforcement Directorate which said today that a fixed deposit worth 100 crores in the name of Kalanithi Maran is among a series of bank accounts and properties that will be seized against nearly 750 crores of "illegal gratification" that was received by the media baron's companies via Mauritius.
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"The money has been utilized by the companies in their business or investments," said a statement by the Enforcement Directorate, which is investigating the money-laundering charges. Mr Maran and Maxis have repeatedly denied any wrongdoing.
Mr Maran is a leader of the DMK which is mired in multiple financial scandals. Its A Raja, who replaced Mr Maran as Telecom Minister, is being tried for criminal conspiracy and corruption for allegedly giving mobile network licenses and free airwaves to companies who bribed him.
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