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An estimated 1-minute read

Arrest of Shahid Balwa is an Alarm to the Corporate World to stay away from Business Malpractices

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     After the arrest of former Telecom minister A.Raja, Central Bureau of Investigation on 08 th day of February, 2011 made another high profile arrest in connection with 2G spectrum Scam. This time the arrested person is from the Corporate world. CBI arrested Shahid Usman Balwa, Director of Mumbai-based "DB Realty" on 08/02/2011 for his alleged obtaining of 2G spectrum licence by malpractices in collusion with former Telecom Minister, A.RAja.


     According to a report published on  Indian Express.com Shahid Balwa's DB Realty had acquired Swan Telecon, which bagged 2G spectrum licenses for 13 circles. Within months the Company sold 45% of shares for Rs.4,500 Crore to UAE based ETISALAT. Swan Telecom was later renamed as "Etisalat DB". According to the report CBI has arrested Shahid Balwa for his role in the 2G spectrum scam. He is alleged to be involved in receiving and channelizing money for A.Raja. According to the report the Enforcement Directorate had trailed Rs. 214 crore allegedly routed by Shahid Balwa of  DB Realty to Chennai-based Kalaingar Television, a channel promoted by family members of DMK leader .


     It, is well known to every common man that the motive of the Business personal is to earn profit. But the fact  is that on the way to earn maximum profit and to withstand in the competition most of the businessman strives towards malpractices for short cut, easy and rapid success without following the Laws and procedure. Shahid Balwa is an example of such a Corporate personality who without any fear of law and ethics allegedly strives to achieve rapid success  and earn maximum profits by malpractices in collusion with A.RAJA on the way to obtain 2G spectrum license.


     For the sake of maintaining Rules of Law and Fair competition in the Corporate World, it is very much necessary to follow the laws, procedures and ethics by the each and every Corporate Entity.


     For those in the Corporate World who thinks that money can buy every thing and Law is the puppet of their hand, the arrest of Shahid Balwa is an alarm that no-one is above the Law and Law will take its own course


Pronoy Kumar Ghose, Advocate

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