Indian federal investigators arrested Shahid Balwa, vice chairman of Etisalat DB Telecom India Pvt., widening a probe into the sale of mobile-phone licenses that’s already triggered the detention of a former minister.
The Central Bureau of Investigation arrested Balwa yesterday, the agency’s spokeswoman, Binita Thakur, said in a phone interview today. His arrest comes a week after authorities detained former telecommunications Minister Andimuthu Raja for questioning. Balwa is also the managing director of DB Realty Ltd., a Mumbai-based property developer.
A Mumbai court today remanded Balwa to two days in custody after the agency argued that Raja conspired to favor companies including the then Swan Telecom Ltd., now known as Etisalat DB, and Unitech Ltd. by violating guidelines in the license sale. The bureau, which won approval to quiz the former minister until tomorrow, told a New Delhi court on Feb. 3 that Raja caused a loss of 220 billion rupees ($4.8 billion) to the exchequer.
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