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No communication from any ministry, says Sun TV

Monday, Jun 8, 2015,22:09 IST By metrovaartha A A A

Chennai | Sun Television Network today clarified that it has not received any communication from any ministry and all its channels continued to be on air. The company was clarifying to report of the Home Ministry striking down a proposal from Information and Broadcasting Ministry for giving security clearance to 33 television channels of Kalanithi Maran-promoted Sun TV Network, a move that could lead to cancellation of their broadcasting licence.
We wish to state that no communication has been received by the company in this regard from any Ministry and all our Channels continue to be on air, Sun Television Network said in a BSE filing. Earlier in the day, stocks of the Chennai-based firm tanked nearly 27 per cent to Rs 258 apiece on BSE.
The Information and Broadcasting Ministry has been informed about the decision of the Home Ministry, which is believed to have taken the stand due to pending criminal cases against Maran and his brother and former Union Minister Dayanidhi Maran, according to official sources.
The CBI probe pertains to the alleged allotment of 300 high-speed BSNL telephone lines to the residence of former Communications and Information Technology Minister Dayanidhi Maran in Chennai, which were extended to his brother’s channel. There are two other pending criminal probes against Sun TV Network and its owner Kalanithi Maran — the Aircel-Maxis case being probed by the CBI and one of money laundering handled by the Enforcement Directorate.

Sun TV crashes nearly 28%, at 52-week low
Mumbai | Shares of Sun TV plunged nearly 28 per cent today following reports that the Home Ministry has struck down a proposal from the Information and Broadcasting Ministry to give security clearance to 33 television channels of the Kalanithi Maran-promoted firm.
The stock tumbled as much as 27.59 per cent to Rs 258 — its 52-week low on BSE. On NSE, it nosedived 27.76 per cent to hit its 1-year low of Rs 257.45.
The Home Ministry’s move could lead to cancellation of the broadcasting licence of the TV channels.
The I&B Ministry has been informed about the decision of the Home Ministry, which is believed to have taken the stand due to pending criminal cases against Maran and his brother and former Union Minister Dayanidhi Maran, according to official sources.
The CBI probe pertains to the alleged allotment of 300 high-speed BSNL telephone lines to the residence of former Communications and Information Technology Minister Dayanidhi Maran in Chennai, which were extended to his brother’s channel.
There are two other pending criminal probes against Sun TV Network and its owner Kalanithi Maran – the Aircel-Maxis case being probed by CBI and one of money laundering handled by the Enforcement Directorate.