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==Alleged involvement in [[2G scam]] and subsequent arrest==
==Alleged involvement in [[2G scam]] and subsequent arrest==
Shahid Balwa was arrested by the CBI on February 9, 2011 on the allegation that DB group transferred Rs.200 crore to a media company owned by members of DMK party. Former Telecom minister A. Raja allegedly helped Swan bag licences for 13 circles, including Mumbai and Delhi, for Rs. 1,537 crore. <ref>{{cite web|url=http://www.thehindu.com/news/national/article1169122.ece |title= 2G spectrum case : CBI arrests Shahid Balwa |publisher=hindu.com |date=2011-02-09 |accessdate=2011-11-03}}</ref> <ref>{{cite web|url=http://www.hindustantimes.com/CBI-arrests-DB-group-MD-Shahid-Balwa-in-2G-scam/Article1-660153.aspx |title= CBI arrests DB group MD Shahid Balwa in 2G scam |publisher=hindustantimes.com |date=2011-02-09 |accessdate=2011-11-03}}</ref> DB realty is one among the companies that bagged 2G licenses in 2008. DB Reality floated Swan Telecom. <ref>{{cite web|url=http://www.ndtv.com/article/india/shahid-balwa-arrested-in-2g-scam-case-84235 |title= Shahid Balwa arrested in 2G scam - ndtv.com India |publisher=ndtv.com |date=2011-02-09 |accessdate=2011-11-03}}</ref> The CBI also arrested two executives on Mar 29, 2011 including the brother of Shahid Balwa. Asif Balwa is the brother of Shahid Balwa. <ref>{{cite web|url=http://www.expressindia.com/latest-news/2G-scam-CBI-arrests-Shahid-Balwas-brother-another-exec/768719/ |title= 2G scam: CBI arrests Shahid Balwa's brother, another exec |publisher=expressindia.com |date=2011-03-29 |accessdate=2011-11-03}}</ref> <ref>{{cite web|url=http://www.dnaindia.com/india/report_cbi-arrests-shahid-balwa-s-brother-in-2g-scam_1525846 |title= CBI arrests Shahid Balwa's brother in 2G scam |publisher=dnaindia.com |date=2011-03-29 |accessdate=2011-11-03}}</ref> A Delhi high-court on November 3, 2011 dismissed the bail plea of Shahid Balwa and seven others accused in 2G scam. <ref>{{cite web|url=http://m.economictimes.com/PDAET/articleshow/10590746.cms |title= 2G: DMK MP Kanimozhi, 7 others denied bail by court |publisher=dnaindia.com |date=2011-11-03 |accessdate=2011-11-05}}</ref> Court trial is scheduled begin on November 11, 2011. <ref>{{cite web|url=http://www.hindustantimes.com/india-news/newdelhi/Court-gets-tough-denies-bail-to-Kanimozhi-7-others/Article1-764273.aspx |title= Court gets tough, denies bail to Kanimozhi, 7 others |publisher=hindustantimes.com |date=2011-11-03 |accessdate=2011-11-05}}</ref>
Shahid Balwa was arrested by the CBI on February 9, 2011 on the allegation that DB group transferred Rs.200 crore to a media company owned by members of DMK party. Former Telecom minister A. Raja allegedly helped Swan bag licences for 13 circles, including Mumbai and Delhi, for Rs. 1,537 crore. <ref>{{cite web|url=http://www.thehindu.com/news/national/article1169122.ece |title= 2G spectrum case : CBI arrests Shahid Balwa |publisher=hindu.com |date=2011-02-09 |accessdate=2011-11-03}}</ref> <ref>{{cite web|url=http://www.hindustantimes.com/CBI-arrests-DB-group-MD-Shahid-Balwa-in-2G-scam/Article1-660153.aspx |title= CBI arrests DB group MD Shahid Balwa in 2G scam |publisher=hindustantimes.com |date=2011-02-09 |accessdate=2011-11-03}}</ref> .Asif Balwa is the brother of Shahid Balwa. <ref>{{cite web|url=http://www.expressindia.com/latest-news/2G-scam-CBI-arrests-Shahid-Balwas-brother-another-exec/768719/ |title= 2G scam: CBI arrests Shahid Balwa's brother, another exec |publisher=expressindia.com |date=2011-03-29 |accessdate=2011-11-03}}</ref> <ref>{{cite web|url=http://www.dnaindia.com/india/report_cbi-arrests-shahid-balwa-s-brother-in-2g-scam_1525846 |title= CBI arrests Shahid Balwa's brother in 2G scam |publisher=dnaindia.com |date=2011-03-29 |accessdate=2011-11-03}}</ref> .


==Charitable Work==
==Charitable Work==

Revision as of 09:15, 9 November 2011

Shahid Balwa
Born1974 (age 49–50)
Gujarat, India
NationalityIndian
Occupation(s)Promoter, DB Group[1] Former Managing Director, DB Group
WebsiteOfficial Website

Shahid Usman Balwa (born 1974) is an entrepreneur based in Mumbai, Maharashtra, India.[4] He is one of the Promoters of Mumbai-based DB Group which runs DB Realty India's 3rd largest realtor, DB Hospitality and Swan Telecom (now Etisalat DB Telecom).[citation needed]

Early life

Shahid Balwa hails from the Chilya Sunni Muslim community, and his forefathers were from Gujarat[3]

Career

Balwa dropped out of college and entered the family's hotel business. His father, Usman, started Balwa's restaurant at Marines Lines and Balwa's Hotel at Mumbai Central. He partnered with billionaire real estate developer Vinod Goenka to form DB Realty in 2006. In a few years, the construction company claimed to have 21,000,000 square feet (2,000,000 m2) of saleable area in ongoing projects and another 40,000,000 square feet (3,700,000 m2) in upcoming projects. [citation needed]

Forbes Billionaire

Shahid Balwa, is the youngest Indian to feature on the Forbes List and is amongst the 10 youngest billionaires in the world.[5][6] He was ranked by Forbes as India's 50th richest man in 2010.[2][7] [8]


Alleged involvement in 2G scam and subsequent arrest

Shahid Balwa was arrested by the CBI on February 9, 2011 on the allegation that DB group transferred Rs.200 crore to a media company owned by members of DMK party. Former Telecom minister A. Raja allegedly helped Swan bag licences for 13 circles, including Mumbai and Delhi, for Rs. 1,537 crore. [9] [10] .Asif Balwa is the brother of Shahid Balwa. [11] [12] .

Charitable Work

His charitable activities are in the field of health and education. They include the Balwas High School and Charitable Medical Institution in Phirozpura, Gujarat. In the next 10 years he is keen to turn this into sizeable educational institution which can take in 20,000 students.[13]

References

  1. ^ "CBI arrests DB group MD Shahid Balwa in 2G scam". Hindustan Times. Retrieved 9 February 2011.
  2. ^ a b "#50 Shahid Balwa". Forbes.com. 18 November 2009. Retrieved 9 February 2011.
  3. ^ a b Nauzer K Bharucha, TNN, Feb 10, 2011, 03.36am IST. "Shahid Balwa: From college dropout to billion-dollar realtor - The Times of India". Timesofindia.indiatimes.com. Retrieved 11 February 2011.{{cite news}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  4. ^ "Shahid Balwa". My Journey To Billionaire Club. 24 August 2010. Retrieved 9 February 2011.
  5. ^ "DB Realty allots Rs 1,000 cr for acquisition of projects | DNA : Daily News & Analysis; Mumbai | Find Articles at BNET". Findarticles.com. 13 August 2010. Retrieved 9 February 2011.
  6. ^ "The ups and downs in the DB Realty story - Rediff.com Business". Rediff.com. 31 December 2010. Retrieved 10 February 2011.
  7. ^ Posted: Thursday, Feb 10, 2011 at 0958 hrs IST (10 February 2011). "Balwa is India's youngest billionaire". Financialexpress.com. Retrieved 24 February 2011.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  8. ^ Nauzer K Bharucha, TNN, Feb 10, 2011, 03.36am IST. "Shahid Balwa: From college dropout to billion-dollar realtor - The Times of India". Timesofindia.indiatimes.com. Retrieved 11 February 2011.{{cite news}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  9. ^ "2G spectrum case : CBI arrests Shahid Balwa". hindu.com. 9 February 2011. Retrieved 3 November 2011.
  10. ^ "CBI arrests DB group MD Shahid Balwa in 2G scam". hindustantimes.com. 9 February 2011. Retrieved 3 November 2011.
  11. ^ "2G scam: CBI arrests Shahid Balwa's brother, another exec". expressindia.com. 29 March 2011. Retrieved 3 November 2011.
  12. ^ "CBI arrests Shahid Balwa's brother in 2G scam". dnaindia.com. 29 March 2011. Retrieved 3 November 2011.
  13. ^ http://www.mid-day.com/news/2011/feb/140211-2G-scam-Shahid-Balwa-schooldays-DB-Realty-mumbai.htm. {{cite news}}: Missing or empty |title= (help); Text "Mid Day," ignored (help)

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