Final arguments in 2G money laundering case from June 1

A special CBI court will hear the final arguments in the money laundering case of the 2G spectrum allocation scam from June 1.

Special CBI Judge OP Saini fixed the date for hearing final arguments in the case registered by the enforcement department against 19 persons including former telecom minister A Raja and DMK MP Kanimozhi, after examination of defence witnesses concluded here on Friday.

“Put up the matter for final arguments on June 1, 2015,” the court said. Mitesh Vinay Kant Kurani, Chief Financial Officer of Cineyug Media and Entertainment Private Limited, deposed in the court as a defence witness for the accused firm Cineyug Media Entertainment Private Limited.

He, however, had earlier deposed in the court as a prosecution witness of the CBI in the main 2G spectrum allocation case in which Raja is accused of granting telecom licenses to ineligible firms for a bribe of Rs 200 crore.

Deposing in the money laundering case as a defence witness, Kurani said that the transaction of Rs 200 crore from Cineyug Media Entertainment Private Limited to Kalaignar TV was not “bribe” money but an investment in the channel for purely business purpose.

The character of money invested by Kusegaon Fruits and Vegetables (P) Limited into Cineyug Films (P) Limited as well Cineyug Films (P) Limited into Kalaignar TV (P) Limited was a “legal and correct one”.

It was a “genuine business transaction” and so was its return, he told the court. Cineyug Films (P) Ltd had received a proposal from Kalaignar TV for equity participation to the extent of 27­34 per cent at a consideration of Rs 200 crore, he said.

“It is wrong to suggest that the money which was received by us from Kusegaon Fruits and vegetables (P) Limited was bribe money. It is wrong to suggest that we created false documents in order to show bribe money as loan,” he added.

Kurani also told the court that Karim Morani, a Bollywood producer and an accused in the case, did not look after the day to day affairs of company.

When cross examined by the CBI, however, he said that Morani had been authorised by the members of the board of the company to take decisions on behalf of them.
“Defence evidence of all 19 accused stands closed,” the court said after concluding of evidence by the witness.