The CBI probing the mysterious death of Sadhick Batcha, a close aide of former telecom minister A Raja and main accused in the 2G scam has established his connection with DB Realty of which accused Shahid Balwa was a promoter.
The investigative agency was seeing Batcha as a crucial link in the money trail of the alleged kickbacks that were paid by some telecom players for securing 2G spectrum licences.
Besides his suspected involvement in laundering the bribe money on behalf of Raja and parking the funds abroad, Batcha's firm Green House Promoters was found to be in possession of large tracts of land across Tamil Nadu.
"Investigation has also disclosed that DB Realty through its subsidiary Eterna developers also transferred an amount of Rs 1.25 crore to Green House Promoters Pvt Ltd in connection with advance for a land purpose which was however returned on November 29, 2008 prior to registration of an FIR in this case," the CBI said in the supplementary chargesheet filed in the special court while charting out the money trail.The CBI said Protiviti Consulting Pvt Ltd, a consulting firm appointed by Green House Promoters assisted them in strengthening their accounting compliance.
It said Balwa's company also entered into an agreement with Protiviti asking it to conduct due diligence of Green House Promoters in context of proposed investments by DB Realty. But the CBI found that such an investment in Green House Promoters was not taken up by DB Realty.
Batcha was found hanging at his home in Chennai on March 16, 2011.
The CBI probe found Green House promoters, registered in 2004 had Batcha and his wife as its initial directors.
Later four others, all close relatives of the former telecom minister — Ramachandran Ramaganesh, A Parameswari (Raja's wife), A Kaliya Perumal and RP Paramesh Kumar joined as Directors of the the firm. The CBI had questioned Batcha in mid-February.
His meteoric rise in recent years had brought him under its scanner, the agency said.