Mr Sharad Kumar, Managing Director of Kalaignar TV, and an accused in the 2G spectrum allocation case, on Saturday denied allegations against him and said the Rs 200 crore given to Kalaignar TV was a loan amount. He dismissed allegations that it was a bribe and said that the money was an inter-corporate deposit (ICD) that had no link to the 2G spectrum allocation.
The CBI had alleged that a DB Group company had paid the ‘bribe' amount to Kalaignar TV through a circuitous route in return for the favour shown by former Telecom Minister, Mr A. Raja, in allocating spectrum to Swan Telecom.
Mr Kumar's lawyer Mr Altaf Ahmed claimed that the CBI was making allegations on the basis of assumptions and therefore was “silly”.