Not content with swindling the Government of India for not less than Rs.1,76,000Crores,Karunanidhi involved the Government of Tamil Nadu into filling up the coffers of those who benefited from 2G operation ( of course. they paid for services rendered), by giving ETA Star Insurance Company ‘Kalaignar Kaappeettu Thittam’-a welfare measure to attend to the illness of the down trodden.
In the Next year the premium was Rs.750 Crores.
The Company is said to have earned Rs 400 Crores from this deal till now.
Not only this.
The Construction of new Government Headquarters,Chennai was handed over to East Coast Constructions, a Company belonging to this Group.
ETA ( not ETA Star)is a Company started by B.S.Abdul Rahman of Keezhakkarai,Tamil Nadu and he is known to be close to powers that be irrespective of who comes to power.
Anna Fly over,Valluvar Kottam etc are those some of the projects executed by ETA during Karunanidhi’s Regime.
He employed his distant relative Salauddin in his Company.
In a short while Salauddin started his own Company ETA STAR.
He developed contacts like his mentor.
The Group is into Infrastructure,Surface Transport,Shipping,Real Estate,Metro Rail, Air conditioning Technology and Automobiles among other businesses.
It has Branches in 22 Countries and is estimated to have a turn over of Rs.16,000 Crores.
The company was given to execute the New Secretariat Project with an original estimate of Rs 700 Crores which was revised to Rs. 1,200 Crores.
2 G Connection.
Swann telecom was one of the beneficiaries of 2G.
Nine months after Swann got the licence, it was bought(57% )by Etisalaat of Dubai.( I have blogged on this please see under ‘Corruption’).
It changes its name to Etisalaat DB .
In three months Genex Exim Vendors buys this from Etisalaat DB.
Genex Exim Vendors is a Company at Chennai was stated with a capital odf Rs. One lakh.
This Company belongs to ETA Star Salauddin’s son.
Now Jayalaithaa has instituted an enquiry into New Secretariat Project and another one on ETA Star involvement in State welfare scheme.
Let us see what comes of it.
Citing security concerns on UAE-based Etisalat link with Pakistan and Afghanistan-based telecom companies, the Home Ministry is likely to explain before the Delhi High Court on Monday why it objected to further investment by Etisalat in India. Etisalat was denied clearance by Foreign Investment Promotion Board from hiking its stake in its spectrum-scam tainted Indian venture.
The Ministry is also likely to express its concern over the association of Shahid Balwa with Etisalat DB Telecom as its director. This company was earlier known as Swan Telecom, which is facing CBI and ED probes in the 2G spectrum scam.
The Union Home Ministry will submit its objections in sealed cover before the Delhi High Court in the case filed by Shahid Balwa. He had approached the court against the Government’s decision to reject the selling of Chennai-based Genex Exim’s 5.7 per cent shares to UAE’s Etisalat.
Sources said the Home Ministry has objected to Etisalat’s shareholding in Pakistan Telecommunication Company Limited (PTSL) and Balwa’s presence in the venture. The PTSL is considered an ISI-controlled company by Indian security agencies. Etisalat has also presence in Afghanistan telecom companies. The Home Ministry also objected to the selling of shares of the controversial company Genex Exim, controlled by NRI tycoon Sayed Salahuddin’s son. Salahuddin is a close associate of DMK patriarch and Tamil Nadu Chief Minister M Karunanidhi.
The shareholding of Genex Exim in the Swan Telecom is already under CBI radar and the offices of this little known company in Chennai were also searched by the investigators during the nationwide raids in December.
“We can’t share information on our affidavit to court. We will put the information in a sealed cover and can’t share any sort of details,” said officials of the Home Ministry.
According to sources, the Home Ministry would submit sensitive information on Balwa by Intelligence Bureau, who along with his associate Vinod Goenka had taken over Swan Telecom from Reliance Communication in October 2007.
Who are the real people behind Genex Exim Ventures, a mystery company that suddenly acquired shares worth Rs 380 crore in Swan Telecom?