SpiceJet ends 13% down as purchase by Maran comes under CBI lens

New Delhi: As CBI digs deep to crack the money trail of bribes paid by a host of telecom players for the purchase of 2G spectrum, the purchase of low cost airline SpiceJet by media czar and Sun TV promoter Kalanithi Maran has come under CBI's scanner. Maran is the grand nephew of DMK chief M Karunanidhi and brother of Union Textiles Minister Dayanidhi Maran.
Shares of SpiceJet ended down 12.81 per cent at Rs 48.65 on the Bombay Stock Exchange .
Maran had acquired a 37.75% stake in the Delhi-based low-cost airline SpiceJet in June last year. But negotiations for the deal started much earlier and the investigative agency believes that part of the kickback money received from the sale of spectrum may have found its way into the airline's purchase.
04/02/11 Economic Times

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Categories: spicejet Feb 2011