Shahid Balwa
{{short description|Indian businessman}}
{{Undisclosed paid|date=March 2020}}
{{Use Indian English|date=July 2014}}
{{Use dmy dates|date=August 2024}}
{{Infobox person
| name = Shahid Balwa
| birth_date =
| birth_place = Gujarat, India
| spouse = Asimah Balwa
| death_place =
| occupation = Promoter, DB Group{{cite news |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= 8 February 2011|accessdate=2011-02-09}} & Managing Director, DB Group
| alma_mater =
| website =
}}
Shahid Usman Balwa (born 1974) is an entrepreneur based in Mumbai, Maharashtra, India. He is one of the promoters of Mumbai-based DB Group.{{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|publisher=Rediff.com|access-date=2018-01-01}}
Early and personal life
Balwa comes from the Chilya Sunni Muslim community, and his forefathers were from Gujarat.
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.{{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 the acquisition of projects | DNA : Daily News & Analysis; Mumbai | Find Articles at BNET |via=FindArticles |date=2010-08-13 |accessdate=2011-02-09 }} {{Dead link|date=February 2012|bot=RjwilmsiBot}}{{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 |publisher=Rediff.com |date=2010-12-31 |accessdate=2011-02-10}} He was ranked by Forbes as India's 50th richest man in 2010.{{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}}{{cite news|url=https://www.forbes.com/lists/2009/77/india-billionaires-09_Shahid-Balwa_XZ4I.html |title=#50 Shahid Balwa |work=Forbes |date= 18 November 2009|accessdate=2011-02-09}}{{cite news |author=Nauzer K Bharucha |date=10 February 2011 |title=Shahid Balwa: From college dropout to billion-dollar realtor |work=The Times of India |url=https://timesofindia.indiatimes.com/india/Shahid-Balwa-From-college-dropout-to-billion-dollar-realtor/articleshow/7464553.cms |url-status=live |access-date=2011-02-11 |archive-url=https://web.archive.org/web/20121104192304/http://articles.timesofindia.indiatimes.com/2011-02-10/india/28545495_1_shahid-balwa-kakade-infrastructure-bandra |archive-date=4 November 2012}}
2G Case
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 the DMK party.{{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=Bloomberg Businessweek}} Former Telecom minister A. Raja allegedly helped Swan bag licences for 13 circles, including Mumbai and Delhi, for {{INR}} 15.37 billion.{{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=Daily News and Analysis}}{{cite news|url=http://www.thehindu.com/news/national/article1169122.ece |title= 2G spectrum case : CBI arrests Shahid Balwa |work=The Hindu |date=2011-02-09 |accessdate=2011-11-03 |location=Chennai, India}} DB realty is one among the companies that purchased 2G licenses in 2008. DB Reality floated Swan Telecom.{{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 |date=2011-02-09 |accessdate=2011-11-03}} The CBI also arrested two executives on 29 March 2011 including the brother of Balwa, Asif Balwa.{{Cite web|title=2G scam: CBI arrests Shahid Balwa's cousin 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|publisher=NDTV}}{{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 |work=Daily News and Analysis |date=2011-03-29 |accessdate=2011-11-03}} A Delhi high-court on 29 November 2011 accepted the bail plea of Shahid Balwa and other under-trials.{{Cite news|agency=Press Trust of India|date=2011-11-29|title=2G case: Shahid Balwa granted bail|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}} On 21 December 2017, a Supreme Court appointed Special CBI Court acquitted him of all charges relating to his role in this case.{{Cite web|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|website=The Hindu}}
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.{{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}}
References
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{{DEFAULTSORT:Balwa, Shahid}}
Category:21st-century Indian Muslims
Category:21st-century Indian philanthropists
Category:Indian businesspeople in real estate
Category:Businesspeople from Mumbai
Category:Indian prisoners and detainees
Category:Gujarati businesspeople