Special judge SC Chandak of the designated CBI court observed on Wednesday that it was clear from the submission made by the CBI for Shahid Balwa’s transit remand that the accused was involved in a serious offence and needed to be produced before the special judge of Patiala House Court, New Delhi.
Shahid Balwa’s advocate Satish Maneshinde told the court that his client had twice received summons from the CBI earlier, but Balwa had to attend to his mother as she was chronically ill and had informed the CBI about the matter.
Maneshinde said Balwa had co-operated with the CBI but was being specifically targeted for reasons unknown to him.
He said Balwa was among the first applicants for 2G spectrum licences. “If Balwa was part of the conspiracy, he would not have suffered the loss of projected profits. For strategic and financial purposes, his company Swan had sold the licences, and there was no restriction on the company to divest shares.”
Maneshinde called the allegations of divesting shares to a firm in south India false.
Balwa is the fourth person to be arrested in the 2G scam, after former telecom minister A Raja, Raja’s former personal secretary RK Chandolia and former telecom secretary Siddharth Behura.