The Madras High Court today reserved orders on petitions filed by Kalanidhi Maran-owned Sun TV and Kal Communications challenging the recent attachment of their properties by Enforcement Directorate in connection with its money laundering probe in the Aircel-Maxis deal.
Justice M. Sathyanarayanan reserved the orders after hearing arguments by Additional Solicitor General G Rajagopalan, who opposed the petitions, and senior counsel P S Rama for petitioner companies.
The petitions challeged the March 31 last provisional attachment order of ED attaching assets worth Rs 742.58 crore in the name of former Telecom Minister Dayanidhi Maran, his businessman brother Kalanithi and other family members under provisions of Prevention of Money Laundering Act (PMLA).
In his submissions, Rajagopalan, who appeared on behalf of ED, said the Aircel-Maxis case arose out of the 2G spectrum case which is being monitored by the Supreme Court. He further said any orders will impede the investigation.
He also said it was for the Sun TV and Kal Communications to get clarification whether the present case can be heard by the high court in the wake of the order passed by the Supreme Court that it will monitor the 2G spectrum case.
Countering the ASG, the petitioner's counsel Raman argued that the 2G spectrum case shall not stand in the way (of this petition).
He also said the residential properties of the petitioners were also attached and the valuation done at the "whims and fancies" of ED.
When the Judge sought to know the stand of ED to a point by the petitioners counsel that the agency had also attached three houses purchased years before the PMLA came into force in 2002, the ASG said the proceeds of the "crime" were completely infused in the business and it was not excessive but only protective.
Raman submitted that the petitioners would give an unconditional undertaking not to alienate the properties till the criminal case was over.
The properties of Sun TV and Kal Communications in several localities here, Tiruchirappalli and Bengaluru have been attached by ED in the case filed by CBI on September 20, 2011 for alleged illegal gratification amounting to Rs.742.58 crores received by Dayanidhi Maran under the guise of investments in Sun Direct Television Private Limited (SDTPL) and South Asia FM Limited (SAFL) companies.
It was alleged by CBI that the illegal gratification was received during December 2007 to 2011.
CBI has further alleged that proceeds of the crime were infused in the aforesaid companies and transformed into various types of properties.
