Sun TV shares fell nearly 10 per cent in morning trade after the Central Bureau of Investigation (CBI) on Wednesday night arrested three persons, including a close aide of former Telecom Minister Dayanidhi Maran, in connection with the telephone exchange case.
Investigators have alleged that when Mr Maran was Telecom Minister, he used 300 government-owned phone lines for Sun TV, the media network owned by his brother, Kalanidhi, in Tamil Nadu. (Read)
The CBI began its enquiry in 2011, nearly four years after receiving complaints that a 'virtual' telephone exchange had been configured at Mr Maran's house for illicit use by Sun TV.
On Thursday, Mr Maran said, "I am being singled out... The CBI (is) torturing, forcing the arrested three persons to give statements against me".
Sun TV shares traded 3.5 per cent lower at Rs 397 on the National Stock Exchange and underperformed the broader Nifty, which traded at record highs above 8,750.
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