New Delhi:
Until Wednesday morning, no one had heard of Sadiq Batcha, a close aide of the tainted former Telecom Minister A Raja. But with the CBI raids today, he was the first man to come under the scanner.
Sadiq Batcha is known as the manager of Green House Promoters - a real estate firm owned by A Raja and his family. But the association does not end there. Raja's wife is the legal advisor to the company and his brother, Kaliaperumal, is one of the primary investors. So it is all in the family.
But is Batcha merely a frontman?
Three years ago, when Green House Promoters was floated, it was done with a modest capital of one crore rupees. But it has now grown into a 600 crore venture with branches being opened in various metros. The phenomenal growth would baffle even analyst from top B-schools (business schools). And what is even more interesting is that three years ago, in May 2007, A Raja replaced Dayanidhi Maran as the Telecom Minister. Is this sheer coincidence, or is there more to it - this will engage many experts.
Sources close to the investigation believe that Sadiq Batcha could know a lot more about the money trail. Income Tax officials too are now looking into the financial irregularities in the company.
Where did 600 crore rupees come from? Could Sadiq Batcha know more about the money trail? If so, how much can the CBI unearth, and how soon? Will more skeletons tumble out? These are the big questions looming large. Will the inquiry bring it all to light when the CBI submits its report early next year?
Sadiq Batcha is known as the manager of Green House Promoters - a real estate firm owned by A Raja and his family. But the association does not end there. Raja's wife is the legal advisor to the company and his brother, Kaliaperumal, is one of the primary investors. So it is all in the family.
But is Batcha merely a frontman?
Three years ago, when Green House Promoters was floated, it was done with a modest capital of one crore rupees. But it has now grown into a 600 crore venture with branches being opened in various metros. The phenomenal growth would baffle even analyst from top B-schools (business schools). And what is even more interesting is that three years ago, in May 2007, A Raja replaced Dayanidhi Maran as the Telecom Minister. Is this sheer coincidence, or is there more to it - this will engage many experts.
Sources close to the investigation believe that Sadiq Batcha could know a lot more about the money trail. Income Tax officials too are now looking into the financial irregularities in the company.
Where did 600 crore rupees come from? Could Sadiq Batcha know more about the money trail? If so, how much can the CBI unearth, and how soon? Will more skeletons tumble out? These are the big questions looming large. Will the inquiry bring it all to light when the CBI submits its report early next year?
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