>Discospinster: Reverted edits by 223.233.67.198 (talk) (HG) (3.4.10)

2021-07-22T20:13:40Z

Reverted edits by 223.233.67.198 (talk) (HG) (3.4.10)

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{{short description|Indian businessman}}
{{Undisclosed paid|date=March 2020}}
{{Use Indian English|date=July 2014}}
{{Use dmy dates|date=May 2020}}
{{Infobox person
| name = Shahid Balwa
| image =
| caption =
| birth_date =
| birth_place = [[Gujarat]], [[India]]
| death_date =
| death_place =
| nationality = [[India]]n
| children =
| spouse =
| occupation = [[Promoter (entertainment)|Promoter]], [[DB Group]]<ref name=htimes>{{cite web |url=https://www.thehindu.com/news/national/2G-spectrum-case-CBI-arrests-Shahid-Balwa/article15134078.ece |title=2G spectrum case : CBI arrests Shahid Balwa |work=The Hindu |date= |accessdate=2011-02-09}}</ref> & [[Managing Director]], [[DB Group]]
| alma_mater =
| website = {{URL|www.dbrealty.co.in}}
}}

'''Shahid Usman Balwa''' (born 1974) is an [[entrepreneur]] based in [[Mumbai]], [[Maharashtra]], [[India]].<ref>{{cite web|url=http://www.myjourneytobillionaireclub.com/2010/08/shahid-balwa.html |title=Shahid Balwa |publisher=My Journey To Billionaire Club |date=2010-08-24 |accessdate=2011-02-09}}</ref> He is one of the [[Promoter (entertainment)|promoters]] of Mumbai-based [[DB Group]]. Arrested in 2011, he was granted bail for his alleged role in [[2G spectrum case]]. On 21 December 2017, a Supreme Court appointed Special CBI Court acquitted him of all charges relating to his role in this case.<ref>{{Cite web|url=http://www.rediff.com/news/report/kanimozhi-a-raja-others-acquitted-in-2g-scam/20171221.htm|title=Kanimozhi, A Raja, 15 others acquitted in 2G scam - Rediff.com India News|website=www.rediff.com|access-date=2018-01-01}}</ref>

==Early and personal life==
Balwa comes from the Chilya [[Sunni Muslim]] community, and his forefathers were from [[Gujarat]].<ref name="indiatimes1">{{cite news|author=Nauzer K Bharucha, TNN, 10 February 2011, 03.36am IST |url=http://articles.timesofindia.indiatimes.com/2011-02-10/india/28545495_1_shahid-balwa-kakade-infrastructure-bandra |archive-url=https://web.archive.org/web/20121104192304/http://articles.timesofindia.indiatimes.com/2011-02-10/india/28545495_1_shahid-balwa-kakade-infrastructure-bandra |url-status=dead |archive-date=4 November 2012 |title=Shahid Balwa: From college dropout to billion-dollar realtor |date= 10 February 2011|work=[[The Times of India]] |accessdate=2011-02-11}}</ref>

==Forbes billionaire==
In 2010, Balwa was the youngest Indian to feature on the Forbes List and is amongst the 10 youngest billionaires in the world.<ref>{{cite news|url=http://findarticles.com/p/news-articles/dna-daily-news-analysis-mumbai/mi_8111/is_20100813/db-realty-allots-rs-1000/ai_n54816956/ |title=DB Realty allots Rs 1,000 cr for acquisition of projects | DNA : Daily News & Analysis; Mumbai | Find Articles at BNET |publisher=Findarticles.com |date=2010-08-13 |accessdate=2011-02-09 }} {{Dead link|date=February 2012|bot=RjwilmsiBot}}</ref><ref>{{cite web|url=http://www.rediff.com/business/slide-show/slide-show-1-the-ups-and-downs-in-the-db-realty-story/20110210.htm |title=The ups and downs in the DB Realty story - Rediff.com Business |work=Rediff.com |date=2010-12-31 |accessdate=2011-02-10}}</ref> He was ranked by ''[[Forbes]]'' as India's 50th richest man in 2010.<ref>{{Cite web|date=2011-02-10|title=Balwa is India's youngest billionaire|url=https://indianexpress.com/article/news-archive/web/balwa-is-indias-youngest-billionaire/|access-date=2020-09-15|website=The Indian Express|language=en}}</ref><ref name="forbes1">{{cite news|url=https://www.forbes.com/lists/2009/77/india-billionaires-09_Shahid-Balwa_XZ4I.html |title=#50 Shahid Balwa |work=Forbes.com |date= 18 November 2009|accessdate=2011-02-09}}</ref><ref name="indiatimes1"/>

==Arrest, bail and subsequent acquittal==
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 {{INR}}2 billion to a media company owned by members of DMK party.<ref>{{cite web|url=https://www.bloomberg.com/bw/magazine/content/11_25/b4233013968530.htm|title=India's Powerful Can't Escape Jail|author=Mehul Srivastava|work=Businessweek.com}}</ref> Former Telecom minister [[A. Raja]] allegedly helped Swan bag licences for 13 circles, including Mumbai and Delhi, for {{INR}}15.37 billion.<ref>{{Cite web|date=2011-02-09|title=2G scam: CBI arrests DB Realty MD Shahid Balwa|url=https://www.dnaindia.com/mumbai/report-2g-scam-cbi-arrests-db-realty-md-shahid-balwa-1505209|access-date=2020-09-15|website=DNA India|language=en}}</ref><ref>{{cite news|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 |location=Chennai, India}}</ref> DB realty is one among the companies that purchased 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 29 March 2011 including the brother of Balwa, Asif Balwa.<ref>{{Cite web|title=2G scam: CBI arrests Shahid Balwa's brother Asif Balwa|url=https://www.ndtv.com/india-news/2g-scam-cbi-arrests-shahid-balwas-brother-asif-balwa-451470|access-date=2020-09-15|website=NDTV.com}}</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 29 November 2011 accepted the bail plea of Shahid Balwa and other under-trials.<ref>{{Cite news|others=PTI|date=2011-11-29|title=2G case: Shahid Balwa granted bail|language=en-IN|work=The Hindu|url=https://www.thehindu.com/news/national/2g-case-shahid-balwa-granted-bail/article2671268.ece|access-date=2020-09-15|issn=0971-751X}}</ref> On 21 December 2017, a Supreme Court appointed Special CBI Court acquitted him of all charges relating to his role in this case.<ref>{{Cite web|last=|first=|date=21 December 2017|title=IN THE COURT OF O. P. SAINI: SPL. JUDGE, CBI (04) (2G SPECTRUM CASES), NEW DELHI|url=http://www.thehindu.com/news/national/tamil-nadu/article22122355.ece/BINARY/2GCBIVsRaja|access-date=|website=}}</ref>

==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.<ref>{{cite web|url=https://www.mid-day.com/articles/who-is-shahid-balwa/112192|title=Who is Shahid Balwa?|publisher=Mid-Day|date=14 February 2011|accessdate=15 September 2020}}</ref>

==References==
{{reflist}}

{{DEFAULTSORT:Balwa, Shahid}}
[[Category:Living people]]
[[Category:1974 births]]
[[Category:Indian Muslims]]
[[Category:Indian billionaires]]
[[Category:Indian philanthropists]]
[[Category:Indian real estate businesspeople]]
[[Category:Businesspeople from Mumbai]]
[[Category:Indian prisoners and detainees]]
[[Category:Gujarati people]]
[[Category:Businesspeople from Gujarat]]
[[Category:2G spectrum case]]
[[Category:DB Group]]

Shahid Balwa - Revision history

>Discospinster: Reverted edits by 223.233.67.198 (talk) (HG) (3.4.10)