After questioning former Minister of Telecommunications and IT A. Raja?s key aide and Green House Promoters managing director Sadiq Batcha, the Central Bureau of Investigation (CBI) said that A. Raja invested a chunk of the kickbacks he received in the sale of 2G spectrum in real estate, according to news reports.
It is believed that the agency has evidence that the money was re-routed to make it appear foreign and was put in 14 of Raja?s real estate front companies.
Chennai-based Green House Promoters is one of the 14 firms where a substantial amount of black money was illegally parked in an attempt to convert it into white.
CBI has so far interrogated Batcha four times as he is suspected of laundering bribes Raja allegedly received in the 2G spectrum issue.
Meanwhile, the agency has questioned Raja?s elder brother Kaliaperumal. It claimed a substantial sum was routed via Dubai, Malaysia and Singapore to Green House Promoters, Equaas Estates, Kovai Shelters Promoters India Private Limited and Shivakhamam Traders in 2008, immediately after the allocation of spectrum licences by Raja.
These firms have been already raided by both CBI and the enforcement directorate and letters rogatory sent to Dubai, Malaysia and Singapore for assistance.
Green House and Equaas Estates were floated in 2004, a few months after Raja became Union minister for environment. Green House was promoted by the former minister?s eldest nephew RP Paramesh Kumar and Batcha.
Subsequently, Raja?s wife MA Parameswari joined it as a director and used the minister?s official residence, Motilal Nehru Marg, Delhi, as her business address. With these high-profile inductions, the share capital of the firm surged to Rs 30 million within 14 months of the launch.
After expanding operations to Tamil Nadu, Karnataka and other parts of southern India, Green House opened an office in Singapore in 2007, violating all Foreign Exchange Management Act and RBI guidelines.
