Chennai, Oct 10 (IANS): Sun TV Network's stock prices fell Monday morning as the Central Bureau of Investigation (CBI) raided the residences and offices of its promoter Kalanithi Maran and his younger brother, former union communications minister Dayanidhi Maran.

Sun TV owns a clutch of leading satellite channels in the four south Indian languages.

The company's share prices at the National Stock Exchange came down to Rs.221.20 Monday soon after the market opened, from the previous closing price of Rs.262.90.

The stock opened at Rs.254.40 and continued to slide. However, the stock regained some of its lost position and at 2.15 p.m., it was changing hands at Rs.259.55.

The Maran brothers are under the CBI scanner following a complaint from industrialist C. Sivasankaran that he was forced to exit mobile telephony company Aircel by Dayanidhi Maran when he was heading the telecom ministry.

Sivasankaran had alleged that Aircel was not given telecom licences and he was forced to sell his holdings to Malaysia-based Maxis Group, headed by T. Ananda Krishnan.

Within months of Krishnan buying Sivasankaran's stake in Aircel, Sun Direct TV -- owned by the Maran family -- received around Rs.600 crore from Maxis, which took up 20 percent stake in it.

The CBI is also investigating another case relating to the provision of over 320 residential telephone lines, sort of a mini-telephone exchange, at the residence of Dayanidhi Maran.

It is alleged that the lines were linked to Sun TV's office and used for data transfer. The line was in the name of general manager, Bharat Sanchar Nigam Ltd (BSNL).

Dayanidhi Maran was heading the communications ministry between 2004-2007.

Sun TV's monopoly in the cable distribution business is also being affected with the AIADMK-led Tamil Nadu government's move to revive its cable television company Tamil Nadu Arasu Cable Corporation.