2G scam: 14-day judicial custody for Asif Balwa

A Central Bureau of Investigation (CBI) court on Friday remanded Asif Balwa, brother of 2G spectrum allocation scam accused Shahid Balwa, to 14-day judicial custody.

On Wednesday, both Asif and his aide Rajiv Agarwal were sent to two-day CBI custody in connection with the money trail.

Asif and Rajiv were apprehended by the CBI in connection with the 2G Spectrum allocation scam on Tuesday.

Asif and Rajiv are directors of Kusegaon Fruits and Vegetables Pvt Ltd, which reportedly loaned Cineyug a sum of Rs 212 crore through a maze of transactions.

Asif is also a director with DB Realty, which has a stake in Swan Telecom, one of the companies named in the 2G scam.

Shahid Balwa, the former Managing Director of DB Group that allegedly paid kickbacks to ex-telecom minister A Raja and his party in lieu of favours during the 2008 spectrum allocation process, has already been arrested in the ongoing probe.

He was arrested from Mumbai on Feb 8.