




The CBI on Monday conducted raids at former telecom minister Dayanidhi Maran's residence in connection to the 2G spectrum scam.
It is the season of annual general meetings, and it was Spice Jet’s turn today. With the Kalanithi Maran at the helm, SpiceJet is looking to put behind a bad first quarter where is reported a loss of Rs 70 crore.
Rasesh Shah, aviation analyst at ICICI Direct joins CNBC-TV18 to talk of the cause-effect of the stake hike by the promoter. He says that SpiceJet was looking for funds to finance their expansion plans and considering the high interest rate scenario, a promoter stake hike was the best solution.
Shares of SpiceJet rose 7% to Rs 25.60 on the BSE following Kalanithi Maran, promoter of media group Sun TV Network Ltd, increasing his stake in the low-cost airline SpiceJet Ltd to 43% by October, in the process bringing in much-needed funds to the tune of about Rs 130 crore.
Sashi Kumar, the chairman of Asian College of Journalism talks to CNBC-TV about what the developments in the Maran case means for the minister and the DMK party.
The Central Bureau of Investigation (CBI) on Wednesday implicated former telecom minister Dayanidhi Maran in the status report of the 2G spectrum scam saying that the initial enquiry revealed that Maran deliberately sat on Aircel's licence application.
Sun TV has strongly denied any role in the 2G scam. Speaking to CNBC-TV18, Sun TV CFO VC Unnikrishnan said neither Sun TV nor Kalanithi Maran have anything to do with 2G scam.