According to media reports, Maran family-owned Sun TV Network was a beneficiary of pay offs by an overseas telecom firm. The CBI has also started a "preliminary investigation" against Dayanidhi Maran. Sun TV plummeted by 27.90 per cent to settle at Rs 272.10 on the BSE & Spice jet tumbled by 18.49 per cent to a year's low of Rs 33.50.
Dayanidhi Maran, the Textiles Minister and a senior leader of the DMK, has denied reports that he misused his office as Telecom Minister to establish a virtual telephone exchange of nearly 300 phone lines at his house which were then secretly made available for use to Sun TV, which is owned by his brother, Kalanidhi Maran.
Mr Maran was Minister for Communications and Technology from June 2004 to May 2007.
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