Friday, 3 April 2015

Marans’ assets worth of Rs. 742.58 cr seized by ED in Aircel-Maxis case

Enforcement Directorate (ED) seized the bank accounts and properties of former telecom Union Minister Dayanidhi Maran and his brother Kalanidhi Maran, owner of Sun TV, of worth Rs. 742.58 crores in Aircel-Maxis case. Such action was taken by ED on the grounds that Maran brothers had allegedly favoured the Malaysian firm Maxis Group to take over the telecom company Aircel. This order was issued under the provisions of the Prevention of Money Laundering Act (PMLA).
Dayanidhi Maran was chargesheeted in that case by CBI in 2011 for forcing Aircel owner C. Sivasankaran during his term as telecom minister (in 2006) to sell his stake to Maxis which is owned by Malaysian billionaire Tatparanandam Ananda Krishnan.  In return for that, companies in Mauritius transferred Rs 742.58 crore into Sun Direct TV Pvt Ltd (SDTPL) and South Asia FM Ltd (SAFL), allegedly for personal benefit of Dayanidhi.
The ED revealed that SDTPL has been promoted by Kalanithi Maran and Kaveri Kalanithi and they own 80 per cent of its shares. The shareholders of SAFL are  Sun TV Network  (60 per cent) and 20 per cent each are A.H. Multisoft Pvt Ltd  and South Asia Multimedia Technologies Ltd., Mauritius. Kalanithi also holds 75 per cent of Sun TV Network Limited, while he and his wife own 90 per cent and 10 per cent respectively of Kal Comm Pvt. Ltd.
The Marans have 120 days to appeal against the ED order while the order has attached the following assets under the PMLA:

Source: http://cablequest.org/news/national-news/item/6724-marans%E2%80%99-assets-worth-of-rs-742-58-cr-seized-by-ed-in-aircel-maxis-case.html

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