Pawar denies links with Swan’s Balwa | india | Hindustan Times
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Pawar denies links with Swan’s Balwa

india Updated: Feb 12, 2011 02:12 IST

Union agriculture minister Sharad Pawar on Friday denied having links with 2G spectrum scam accused Shahid Balwa, promoter of Swan Telecom and managing director of DB Realty. Balwa is now in CBI custody.

Asked about Balwa’s stake in Dynamix company on his home turf Baramati, the Nationalist Congress Party chief said Dynamix was formed 28 years ago when Balwa was a “child”. He said: “A foreign company holds 51% of the shares in Dynamix, while the remaining 49% are with farmers.”

Media reports have alluded to the links of Maharashtra politicians and Balwa without directly naming Pawar or any other leader.

“How can you think like this? He is 35 years old and I am 70. How can we be friends?,” he told media in Kolhapur.

Sources close to Pawar said Dynamix was controlled by KM Goenka and his family until 2004 when it was taken over by a US-based company. The farmers’ 49% shareholding has been kept intact. Sources said the Goenkas are not connected with Dynamix in Baramati anymore.