Shahid Balwa
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Shahid Balwa | |
|---|---|
| Born | |
| Occupation(s) | Promoter, DB Group[1] & Managing Director, DB Group |
| Spouse | Asimah Balwa |
Shahid Usman Balwa (born 1974) is an entrepreneur based in Mumbai, Maharashtra, India. He is one of the promoters of Mumbai-based DB Group.[2]
Early and personal life
[edit]Balwa comes from the Chilya Sunni Muslim community, and his forefathers were from Gujarat.
Forbes billionaire
[edit]In 2010, Balwa was the youngest Indian to feature on the Forbes List and is amongst the 10 youngest billionaires in the world.[3][4] He was ranked by Forbes as India's 50th richest man in 2010.[5][6][7]
2G Case
[edit]Balwa was arrested for his role in the 2G spectrum case by the CBI on 9 February 2011 on the allegation that DB group transferred ₹ 2 billion to a media company owned by members of the DMK party.[8] Former Telecom minister A. Raja allegedly helped Swan bag licences for 13 circles, including Mumbai and Delhi, for ₹ 15.37 billion.[9][10] DB realty is one among the companies that purchased 2G licenses in 2008. DB Reality floated Swan Telecom.[11] The CBI also arrested two executives on 29 March 2011 including the brother of Balwa, Asif Balwa.[12][13] A Delhi high-court on 29 November 2011 accepted the bail plea of Shahid Balwa and other under-trials.[14] On 21 December 2017, a Supreme Court appointed Special CBI Court acquitted him of all charges relating to his role in this case.[15]
Charitable work
[edit]His charitable activities are in the field of health and education. They include the Balwas High School and Charitable Medical Institution in Phirozpura, Gujarat.[16]
References
[edit]- ^ "2G spectrum case : CBI arrests Shahid Balwa". The Hindu. 8 February 2011. Retrieved 9 February 2011.
- ^ "Kanimozhi, A Raja, 15 others acquitted in 2G scam – Rediff.com India News". Rediff.com. Retrieved 1 January 2018.
- ^ "DB Realty allots Rs 1,000 cr for the acquisition of projects | DNA : Daily News & Analysis; Mumbai | Find Articles at BNET". 13 August 2010. Retrieved 9 February 2011 – via FindArticles. [dead link]
- ^ "The ups and downs in the DB Realty story". Rediff.com. 31 December 2010. Retrieved 10 February 2011.
- ^ "Balwa is India's youngest billionaire". The Indian Express. 10 February 2011. Retrieved 15 September 2020.
- ^ "#50 Shahid Balwa". Forbes. 18 November 2009. Retrieved 9 February 2011.
- ^ Nauzer K Bharucha (10 February 2011). "Shahid Balwa: From college dropout to billion-dollar realtor". The Times of India. Archived from the original on 4 November 2012. Retrieved 11 February 2011.
- ^ Mehul Srivastava. "India's Powerful Can't Escape Jail". Bloomberg Businessweek.
- ^ "2G scam: CBI arrests DB Realty MD Shahid Balwa". Daily News and Analysis. 9 February 2011. Retrieved 15 September 2020.
- ^ "2G spectrum case : CBI arrests Shahid Balwa". The Hindu. Chennai, India. 9 February 2011. Retrieved 3 November 2011.
- ^ "Shahid Balwa arrested in 2G scam – ndtv.com India". NDTV. 9 February 2011. Retrieved 3 November 2011.
- ^ "2G scam: CBI arrests Shahid Balwa's cousin brother Asif Balwa". NDTV. Retrieved 15 September 2020.
- ^ "CBI arrests Shahid Balwa's brother in 2G scam". Daily News and Analysis. 29 March 2011. Retrieved 3 November 2011.
- ^ "2G case: Shahid Balwa granted bail". The Hindu. Press Trust of India. 29 November 2011. ISSN 0971-751X. Retrieved 15 September 2020.
- ^ "In the Court of O. P. Saini: Spl. Judge, CBI (04) (2G Spectrum Cases), New Delhi". The Hindu. 21 December 2017.
- ^ "Who is Shahid Balwa?". Mid-Day. 14 February 2011. Retrieved 15 September 2020.