Chennai: Sadiq Batcha, who was found dead in mysterious circumstances in his house at Chennai on Wednesday, was a close aide of former telecom minister A Raja.
The 47-year-old Batcha was the managing director of Greenhouse Promoters, a firm under the scanner of the CBI as well as the Enforcement Directorate in connection with the spectrum allocation scam.
Raja's close aide found hanging
Raja's wife took charge as director of Green House Promoters floated by Batcha but she resigned in 2008. After this, Raja's brother A Kaliyaperumal and nephew R P Prameshkumar took over the charge of Green House Promoters.
The CBI raided Batcha's company and house in December last.
Batcha hailed from Raja's home town Perambalur in Tamil Nadu and became close to the former telecom minister through a DMK functionary.
The Green House Promoters, from being a nondescript company with an equity base of Rs 100,000 in 2004, grew to over Rs 600 crore revenue company within a short time. The CBI is investigating the rapid growth of the company.
The real estate boom that started in 2004 saw the company acquiring huge tracts of land in different parts of Tamil Nadu.
Batcha allegedly bought properties of the poor at cheap rates and sold them in sky-high prices.
Batcha, who was born in Karur district of Tamil Nadu, moved to Peramablur to make a living. He started selling mattresses and clothes by walking from door-to-door. Soon he got friends in the real estate business and worked as a land broker.
Batcha's death a setback for CBI in 2G probe
It didn't take long before the land broker graduated into a real estate business man.
The CBI says Batcha was a suspect in the 2G spectrum case. The agency questioned him four times in connection with the scam and he was cooperating in the probe.
The CBI believes that Batcha was aware of several transactions related to the scam and could have been more useful during prosecution.
Batcha's death could be a setback to the CBI. It comes at a time when the agency is planning to file a charge sheet against Raja by March 31.