Mumbai: The Central Bureau of Investigation (CBI) has not been in touch with Sun TV or its founders, the firm said on Monday, after market talk of a probe sent its shares down by as much as 20%.
“This is a complete rumour, there is no basis for it. There has been no CBI effort to reach out to either the promoters or to Sun TV, or anybody at SpiceJet,” Sun’s chief operating officer Ajay Vidyasagar told Reuters.
Kalanithi Maran, the founder of Sun TV had purchased a stake in SpiceJet in June last year
A SpiceJet spokeswoman declined comment on the issue.
A CBI official chose not to talk about the SpiceJet transaction to Reuters, but said the telecom graft investigations are leading in all directions.
Shares of Sun TV recovered to end 11.45% down at Rs410.65 in a flat Mumbai stock market. SpiceJet shares pared losses to close 2.06% down at Rs47.65, after falling as much as 12% during the day.