Sun TV remains silent, Maran alleges political vendetta

The Sun TV group continued to maintain a studied silence on Friday over the attachment of assets worth Rs.742.58 crore by the Enforcement Directorate (ED) belonging to Dayanidhi Maran, Kalanithi Maran, his wife Kaveri Kalanithi and other group companies.

Senior group officials were not available for comments for the second day in succession, though its business is as usual at various channels owned by the group.

However, former telecom minister and DMK leader Dayanidhi Maran has termed the ED action as political vendetta.

The impact of the ED action on the Sun TV Network ltd's scrip would be known only on Monday when markets open for trading.

On April 1, the Sun TV's scrip closed at Rs.453.85 in Bombay Stock Exchange.

Kalanithi Maran owns 75 percent of the Sun TV's shares.

On Wednesday, the ED announced attachment of assets (moveable and immovable) worth Rs.742.58 crore belonging to the Maran brothers, Kaveri Kalanithi and group companies in connection with the Aircel-Maxis deal case.

Dayanidhi Maran said the assets belonging to him that were attached by the ED were acquired long before the alleged crime.

According to Dayanidhi Maran, foreign investments in an Indian company could be made only with the approval of the central government.

He claimed the Aircel-Maxis deal was above the board.

The former telecom minister claimed that he would fight the case and win.

The Central Bureau of Investigation (CBI) has alleged that Dayanidhi Maran used his influence to help Malaysian businessmen T. Ananda Krishnan buy Aircel by coercing its owner C. Sivasankaran to part with his stake.

Sivasankaran alleged that Dayanidhi Maran favoured the Maxis Group in the takeover of his company. He also alleged that the company made investments through Astro Network in a firm stated to be owned by the Maran family.