Although, A. Raja is now going through a serious battle with Kapil Sibal (Sibal Uncle), his devotee Swan Telecom's promoter (currently Etisalat-DB) Shahid Balwa has no issues in using Sibal Uncle's well known Zero Loss Theory in the court.
Shahid Usman Balwa of DB Realty argued before the special CBI court of O P Saini that he didn't cause any loss to the exchequer (?) and quoted PM Manmohan Singh and Sibal's statements, wondering how the CBI could book him when both the PM and the telecom minister "have said that there was no loss in the 2G case" (ha ha ha). He told that selling stake in Swan Telecom to Etisalat was just a reward for his entry in such hopelessly unviable industry which was required attention from the corporate for building social network. He said that even he maintained that in the page Corporate Social Responsibility Programme on DB Realty's Annual Report. However, CBI in spite of his innocence and so much social work has arrested him and the court is denying his bail.
He thanked to the CBI for choosing him as the first high profile corporate accused in the 2G spectrum scam which will improve is brand presence across all the Page-3 parties. However, he said that he really felt absence of Tata and also asked CBI to invite him to join him in Tihar. He said "I am just a small fish.. might have contributed for small loss to exchequer but due to Tatas, the exchequer suffered a loss of Rs4,930Cr while Swan Telecom is placed seventh in the alleged list with its contribution Rs2,624Cr. The highest contributor of loss is Tata and he can also join me.
"Tata was the only company to sell secondary equity. They earned Rs 12,000 crore from it, out of which Rs 3,000 crore went into Tata Sons' pocket while only Rs 9,000 crore was put into the company," Balwa said.
"Sixteen months after the FIR was registered, the PM gave a statement in Lok Sabha that there was no loss in the 2G case (?). The government of India is the main victim in this case. Why didn't the CBI write a letter to any minister or relevant person in the government who could tell about the actual loss to the exchequer," Balwa's lawyer Majid Memon asked, seeking his client's discharge in the case.
Balwa accepted greatness of Sibal Uncle
He added that telecom minister Kapil Sibal had categorically stated that there was no loss in the 2G case. "Who can know better than him? He is a responsible minister and hence will not make an irresponsible statements... he made the statement after he got the feed by a team of his people," Memon said.
Balwa contended that his incarceration had spoiled the investment climate in the country and caused alarm worldwide and many international agencies were contemplating sending observers to monitor the trial. "A wrong message has gone to the world by jailing Balwa. Members of International Bar with Amnesty International want to send observers. So do members of Fair Trial International and United Nations human rights wing," Memon claimed. The observers wanted to monitor the trial as "they are wondering why corporate accused charged under these offences continue to be in jail so long".
DCFC reporter asked a senior political analyst that why every minister, non-minister, every politician and corporate like Balwa is saying that the investment climate in the country is spoiled. That means Manuji, Sibal Uncle, Salman Khurshid (Salman Bhaai), A. Raja and Shahid Balwa didn't want this case to be opened and they can always get free from all the accusation otherwise it will hurt investments. The political analyst keeping anonymity said that it's not just the investment climate but they want this case to be closed ASAP. However, daily developments are not able to keep people eyes out of this case. He also gave an example of Mumbai Terror Blasts on 13/7 were forgot by the Indian people and media immediately after the arrival of Hina Rabbani Khar. He said that out of long experience of Congress these leaders learnt that the memory of Indian people is very short like Suresh Kalmadi (or for that matter Ghazini) and which they are trying to play.
Balwa said that CBI's entire case was based upon the loss to the state exchequer but the government clearly stated in Parliament that no loss was suffered and instead tele-density in the country increased in 2010 from what it was in 2004 (as it was just because addition of these new players of which many have not yet rolled out fully, Balwa Uncle please don't make fool of us). "The PM simply supported a policy that was entirely consonant with TRAI recommendations and the 10th five-year plan (for 11th Five year plan, ha ha ha), which talked of increasing tele-density, non-revision of prices and not to auction spectrum. We are not saying PM (?) supported wrongdoers (?). He just supported the right policy (great… Chor Machaye Shor)," Balwa argued.
He also slammed the Comptroller and Auditor General's (CAG) report, claiming the then external affairs minister Pranab Mukherjee (New Name to the case) and then solicitor general G E Vahanvati were aware of A Raja's telecom policy. Balwa claimed the duo was aware of the telecom policy and the PM (again PM… hmmm) endorsed all the decisions.
He accused the CBI of withholding (kya CBI, that's why Anna Hazare is asking government to keep CBI reporting to Lokpal and not PMO) from court crucial documents that disclosed a discussion between Mukherjee and the then solicitor general on the allocation policy. "There was a personal discussion between the then minister of external affairs (Pranab Mukherjee) and the solicitor general (G E Vahanvati) on the allocation policy. CBI should place all the documents before this court."
Accusing the CBI of leaving influential persons untouched, Balwa said, "I am here because of my business rivals. Certain powerful people have not been touched. There are making me shahid just because my name is Shahid (sob sob sob)."
