ED issues Rs 742.58 crore attachment order against Sun TV group’s Marans

MUMBAI: South Indian media baron Kalanidhi Maran and his brother, the former Union telecom minister Dayanidhi – scions of the powerful DMK party of Tamil Nadu - received a setback late last evening when India’s Enforcement Directorate issued an order to attach properties and assets worth Rs 742.58 crore belonging to them. 


It also ordered that certain assets belong to Kalanithi’s wife Kaveri  be attached. The order was issued following investigation by  the agency under the Prevention of Money Laundering Act, says an ED release, and was in relation to an alleged illegal gratification of the same amount Dayanidhi received in the Aircel-Maxis case when he was telecom minister.


The entire money laundering investigation is being done under the eagle eye of the Supreme Court and the ED’s Deputy Director Rajeshwar Singh under the Headquarter Investigation Unit (HIU).


The ED had tweeted earlier in the day that the “ED HIU attaches under PMLA FDs, land & building,shares of Maran brothers worth Rs 742.58 crores in #Aircel-Maxis case.”


Dayanidhi was chargesheeted in that case by the Central Bureau of Investigation in 2011 for coercing Aircel owner C. Sivasankaran during his term as telecom minister  (in 2006) to sell his stake to Maxis which is owned by ageing Malaysian billionaire Tatparanandam Ananda Krishnan.  In return for that companies in Mauritius transferred Rs 742.58 crore allegedly for Dayanidhi into Sun Direct TV Pvt Ltd (SDTPL) and South Asia FM Ltd (SAFL)


The EDs investigation revealed that SDTPL is 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 ED order has attached the following under the PMLA:


* Fixed deposits held by Dayanidhi Maran and others - Rs. 7.47 Crore

*  Fixed deposits held by SDTPL - Rs. 31.34 Crore.

*  Fixed deposits held by SAFL - Rs. 6.19 Crore

* Mutual Funds held by SAFL - Rs.15.14 Crore.

* Fixed Deposit held by Kalanithi Maran - Rs 100 Crore.

*  Mutual Funds held by Kalanithi Maran - Rs. 2.78 Crores.

*  Fixed Deposit held by Kaveri Kalanithi - Rs 1.30 Crore.

*  Mutual Funds held by Kaveri Kalanithi - Rs. 1.78 Crore.

*  Land and Building owned by Kal Comm Private Limited - Rs. 171.55 Crores

* Free Hold Land and Building owned by Sun Network TV Pvt. Ltd - Rs. 266 Crore.

* Shares of SDTPL held by Kalanithi Maran – Rs. 139 Crore.


The Marans have 120 days to appeal against the ED order.

Latest Reads
South Asia FM allotted Surat, Amritsar, Patna, Chandigarh and Jammu FM channels

NEW DELHI: M/s South Asia FM Ltd has been declared as the winning bidder for five Radio FM channels, just a day after the commencement of the auction for the second batch of Phase III. The company will be allotted FM Channels in Surat, Amritsar, Patna, Chandigarh and Jammu. The details of the...

Regulators I&B Ministry
Govt seeks professional help for DD revival

NEW DELHI: Fazed by private sector television channels’ stridency in terms of revenues and viewership in an increasingly digital India, the government is seeking outside professional help in “transformation of Doordarshan.”

Regulators I&B Ministry
Prasar Bharati lacks content & marketing; open to tie-ups: MIB Minister

NEW DELHI: Conceding that Prasar Bharati is lagging in both content and marketing, Minister of State for Information & Broadcasting (MIB) Rajyavardhan Rathore on Wednesday said there was a need to bring in outside experts for improving these aspects.

Regulators I&B Ministry
MIB favours self-regulation, TRAI says some regulation mandatory

NEW DELHI: Even as he favoured the idea of self-regulation in the media, Minister for Information and Broadcasting (MIB) M Venkaiah Naidu stressed that “regulation should not become strangulation” and added the government wants to be a facilitator for creating a good business environment for the...

Regulators I&B Ministry
FM Phase III e-auction tomorrow

NEW DELHI: The e-auctions for the second batch of Radio FM Phase III has been put off by a day to 26 October 2016.

Regulators I&B Ministry
TRAI tariff order, interconnect regulations; date for responses extended

NEW DELHI: Stakeholders wanting to give in their reactions to the latest draft Tariff order for Digital Addressable Systems, the Quality of Service and Consumer Protection Regulations, and the draft interconnect regulations have been given time till 15 November 2016 to respond.

Regulators TRAI
FM P-III auction: EMD, bidders initial eligibility declared

NEW DELHI: Even as the day of the e-auction of the second batch of FM Phase III on 25 October 2016 approaches, the Government has released the earnest money deposit (EMD) by the pre-qualified bidders and the initial eligibility points (IEP) of each of these.

Regulators I&B Ministry
FM P-III second batch auction from 25 Oct; 14 in fray

NEW DELHI: The e-auction of the second batch of FM Phase III will commence on 25 October 2016 from 09.30am.

Regulators I&B Ministry
Free data, net neutrality: Discussion on TRAI paper to be held

Given the complicated issues around net neutrality, an open house discussion is to be held in Hyderabad this month on Telecom Regulatory Authority of India’s consultation paper on free data. The OHD will be held at Hotel Trident in the Telangana capital on 24 October 2016.

Regulators TRAI

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories