BackSun TV shares dive 8.55% as Maran brothers come under ED lens
A news report said ED has questioned Maran brothersDayanidhi and Kalanithiin connection with money laundering probe in Aircel-Maxis deal
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Mumbai: Shares of Sun TV Network Ltd fell as much as 10.7% on Friday after a news report said that the Enforcement Directorate (ED) has questioned its promoter in a money laundering case.
The ED questioned the Maran brothers—Dayanidhi and Kalanithi—in connection with the money laundering probe in the Aircel-Maxis deal, Press Trust of India reported.
The ED is also expected to issue an attachment order for seizing of assets of an estimated value of over ₹ 700 crore in this case and all questions regarding criminal actions had to be answered by those involved and booked, the report added.
Earlier in July, attorney general Mukul Rohatgi cleared the prosecution of promoter Kalanithi Maran’s brother and former Union minister Dayanidhi Maran by the Central Bureau of Investigation (CBI), Mint reported.
Former Aircel owner C. Sivasankaran has alleged that Dayanidhi Maran, as telecom minister between February 2004 and May 2007, had forced him to sell his company to Malaysia’s Maxis group, and that, in return, Maxis invested in Sun Direct, Kalanithi Maran’s direct-to-home business, through Astro All Asia Networks.
Sun TV shares closed 8.55% lower at ₹ 343.75, while India’s benchmark Sensex index fell 0.91% to 27,350.68 points.
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