Court rejects bail pleas of Balwas and Agarwal
24 May 2011
A Delhi court today turned down the bail pleas of Swan Telecom promoter Shahid Usman Balwa, his cousin Asif Balwa as also that of their associate Rajeev Agarwal in the 2G spectrum case.
''All the three bail pleas are dismissed,'' special CBI judge O P Saini said.
Asif and Agarwal are the directors of DB Realty group firm -- Kusegaon Fruits and Vegetables Pvt Ltd which was allegedly used in a ''circuitous manner'' to transfer Rs200 crore in kickbacks to DMK-run Kalaignar TV Pvt Ltd.
The duo stand accused of playing key roles in the transfer of Rs200 crore in bribes to Kalaignar TV through various firms promoted by Shahid Usman Balwa.
Shahid was arrested on 8 February while Asif and Agarwal were arrested by the CBI on 29 March. All three are currently in Tihar Jail.
Agarwal is also director of Conwood Constructions and Developers Pvt Ltd, which is a partner of Dynamix Realty.
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