Sunday, May 9, 2021
Home News Reports CBI raids at Prannoy Roy's residence - read what NDTV and Roys are accused...

CBI raids at Prannoy Roy’s residence – read what NDTV and Roys are accused of

The Central Bureau of Investigation (CBI) raided the residence of New Delhi Television (NDTV) Limited co-founder and executive chairperson Prannoy Roy this morning. The CBI reportedly conducted searches at at four places including Delhi and Dehradun.

The raid was part a crackdown for bank frauds. The CBI has registered a case against Prannoy Roy, his wife and co-founder of the channel Radhika Roy, a private company and others for allegedly defrauding a private bank.

The case is related to a Rs 396 crore fraud on ICICI Bank. Reports suggest that Roys took Rs 396 crore loan from ICICI Bank to shell company RRPR Holding showing NDTV assets. Rs 21 crore and Rs 71 crore were then diverted to the bank account of Prannoy and Radhika Roy respectively.

Reacting to the CBI raids, BJP leader and Rajya Sabha MP Dr Subramanian Swamy said, “Fear of law is necessary and it should be applied no matter who you are.”

Swamy had earlier written a letter to Prime Minister Narendra Modi requesting him to direct the CBI to file case against NDTV under Prevention of Corruption Act. Alleging that NDTV was a party to Aircel-Maxis scam, during the Congress rule, Swamy had said it received illegal money from Maxis subsidiary Astro. Swamy further said that the money, received by NDTV from Maxis, was “illegally approved” by then Finance Minister P Chidambaram to “benefit his son” Karthi Chidambaram.

The Roys are being probed for contraventions of tax laws and laws involving foreign money. A report published in Caravan Magazine suggests that a series of financial transactions that the Roys have carried out from the mid 2000s onwards have been under close investigation by government agencies.

In 2013, Sanjay Dutt, director of a financial-services firm Quantum Securities who owned around 125,000 shares in NDTV, had filed complaints with Enforcement Directorate and Directorate General of Income Tax alleging that that NDTV and its promoters had violated a number of laws. In January 2015, Dutt had filed a writ petition in Delhi High Court against Enforcement Directorate and Directorate General of Income Tax Investigation alleging that both agencies failed to act on his complaints.

The Enforcement Directorate, in November last year, had slapped a show cause notice to NDTV for flouting foreign exchange regulations while bringing foreign investments to the tune of Rs 2,030 crore between 2007-10.

A book named ‘NDTV Frauds’, written by Sree Iyer, talks in detail about alleged illegalities committed by the media group.

The raids come on a day the broadcaster is taking its English business news channel NDTV Profit off air. It could be noted that NDTV Profit continued to have the lowest TRP among the genre of business-economy channels. Even the general news channels in Hindi and English have failed to top the TRP charts.

During the quarter ending 31 December 2016, NDTV had reported a consolidated revenue loss of Rs 18 crore following a dip in advertising revenue. Facing financial losses, the channel has put its assets on sale.

NDTV is facing three-fold challenges – revenue loss, fraud and credibility crisis. NDTV, primarily a left-leaning television news channel, often faces a lot of flak in social media for taking partisan stand against the Modi government and the BJP, using half truths and manipulation of facts. Incidentally, after the Congress lost power in 2014 general elections, the broadcaster is facing financial crisis.

At the same time the credibility of the channel is on a further downside with its anchors peddling fake news, channel being silent on crimes by relatives of NDTV journalists, and the channel giving platform to people who are abusive and violent.

NDTV also came under severe criticism for its coverage on the terror attack at Pathankot airbase. In November last year, the government had ordered a one day token ban on NDTV India, after an inter-ministerial panel constituted by the Information & Broadcasting Ministry recommended this action. The ban was ultimately not executed, even as the channel refused to apologise for Pathankot coverage.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Chinese state media Editor accuses Subramanian Swamy of being ‘ungrateful’ over ‘war on COVID’, it doesn’t go down well for him

Chinese state media Global Times Editor Hu Xijin on Sunday accused BJP leader Subramanian Swamy of being 'ungrateful' after he tweeted that India is...

Patanjali was the first Indian company to publish a research paper on the new Covid-19 drug approved by DCGI: Read details

Patanjali had published a research paper on use of the drug 2-deoxy-D-glucose for Covid-19 treatment in March 2020

West Bengal: BJP leader Swapan Dasgupta files a complaint with the police on targeted persecution of its party workers

Dasgupta in his complaint to the police mentioned on record the names of all 260 victims, some of whom have been unable to return home after the TMC goons unleashed violence post their victory in the state.

Netizens call out actor Sonu Sood’s claims of arranging for plasma, bed for COVID patients

After multiple media reports and social media posts on how Sonu Sood was helping out migrants go back home last year amid the nationwide lockdown, Sood had written an autobiography, 'I am no no messiah'.

Here is how The Lancet used dubious sources to blame Modi Govt for the Covid crisis

Following the abrogation of Article 370, The Lancet had issued a strong condemnation of the Indian Government.

Indian diaspora protests against West Bengal post-poll violence in UK, Canada, Australia and United States

"The State machinery is failing the people of West Bengal as the Hindus are subjected to killings, rapes, and exodus from their homeland," a protestor said.

Recently Popular

Meet AAP’s ‘Delhi ke Nirmata’: Who is Navneet Kalra, the businessman on the run after oxygen hoarding scandal was busted

Oxygen Concentrators have been found at Khan Chacha, Nege & Ju bar and Town Hall restaurants in Delhi, all owned by Navneet Kalra

Arvind Kejriwal govt expels 7 journalists from Whatsapp group after report critical of govt handling of oxygen crisis, senior journalists keep mum

The Arvind Kejriwal government has been the darling of the media for a long time but it seems to want absolute devotion

Comedian Sanket Bhosale who had featured in ad mocking Rahul Gandhi booked for violating Covid-19 norms in Punjab

A week after the vandalism by the Congress workers in Mumbai, the Congress-led Punjab government has now booked comedian Sanket Bhosale, the actor featured in the advertisement, on the pretext of violating Covid-19 regulations during his wedding.

‘Dominance of one religious group cannot prevent religious celebrations of other’, says Madras HC after local Muslims object to Hindu procession

The Madras High court concluded that similar acts of 'resistance' by other religious groups would result in loss of lives, destruction of properties, riots, religious fights and chaos.

Chinese research paper, published 6 years ago by Chinese military backed authors, discussed weaponising Coronavirus: Reports

A 2015 research paper by Chinese scientists reveals nefarious plans to weaponise the SARS Coronavirus against the world.

Subramaniam Swamy calls S Jaishankar a ‘waiter’ and says he tested positive for COVID: Netizens fume, EAM clarifies

Subramanian Swamy stoked controversy after he targeted Dr S Jaishankar by referring to him as a 'waiter' and claiming he was COVID positive
- Advertisement -

 

Connect with us

254,882FansLike
540,364FollowersFollow
24,300SubscribersSubscribe