Home News Reports Not a good day for NDTV: A show cause notice from ED over irregularities worth ₹4,369 crore and a ₹10,000 crore defamation suit

Not a good day for NDTV: A show cause notice from ED over irregularities worth ₹4,369 crore and a ₹10,000 crore defamation suit

Controversial media house NDTV limited has been issued a show cause notice by Enforcement Directorate (ED) over violation of Foreign Exchange Management Act (FEMA) rules. The case relates to ₹1,637 crore that the media company had received as FDI, and overseas investment of ₹2,732 crore that the company had made.

Other than NDTV Limited, the notice has also been issued to Prannoy Roy, Mrs. Radhika Roy, Vikram Chandra and other associated with the company for their involvement in violation of rules. The companies alleged to have violated the FEMA rules include Ms NDTV Lifestyle Holdings Ltd (now Ms Lifestyle and Media Holdings Ltd), Ms South Asia Creative Assets Ltd, Ms Astro Overseas Ltd and Ms NDTV Imagine Ltd (now Ms Turner General Entertainment Networks India Pvt Ltd).

A statement issued by ED says that the media group had received an FDI worth ₹725 crore without obtaining approval from cabinet committee on economic affairs (CCEA). According to rules, CCEA is mandatory for FDI above ₹600 crore, but while applying for FIPB approval the company had projected the value of FDI at ₹585 crore, eliminating the need for CCEA clearance. The statement says that “FDI was projected as below ₹600 crore as part of a larger conspiracy.”

- Ad - - article resumes -

The agency said that “further investigation on this aspect is continuing.”


According to ED, an FDI of ₹319 crore received by NDTV Ltd violated the press note 1 of 2005 of DIPP, while a downstream investment of ₹138 crore was made without FIPB approval.

Talking about the FEMA violation, the statement says that “overseas investment made by the NDTV and offences of Rs 582 crore relate to contravention of substantive provisions of FEMA and the remaining contraventions of Rs 2,414 crore relate to delays in filing reports and other requisite information before RBI.”

NDTV has rejected the charges of violation of FEMA norms. In a statement posted on its website it alleged that the channel is being targeted for its fair and independent journalism.

The companies have also been charged with delays in filing and reporting information with RBI.


The media house was also hit with a defamation suit for ₹10,000 crores. Anil Ambani led Reliance group has filed the case in Ahmedabad court over the channel’s coverage of the Rafale deal. This was informed by CEO of NDTV group Suparna Singh on Twitter.

The lawsuit is filed against NDTV’s weekly show, Truth vs Hype, which aired on September 29. The hearing has been listed for 26th October and NDTV say they will contest the case. The channel has outright rejected any charges of defamation and said that they will present material in court to support its case.

This is the latest in the series of several defamation suits that Reliance Group has filed against several politicians and media houses over the allegations made over the Rafale deal.

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.

Big Story

Strange rumours are coming out of Kashmir. Shah Faesal, supposedly, is Doval's stooge.

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

To Advertise on Opindia.com Click here

Here is why Prannoy Roy and Radhika Roy were stopped at the airport and were not allowed to leave the country

Radhika and Prannoy Roy of NDTV have said that they were not allowed to leave the country because of a concocted ICICI loan case. Read about that case in details

Army veteran Surendra Poonia receives threats from Pakistan, files online complaint with cyber crime portal

Major Poonia shared screenshots of the threats he has been receiving as well as screenshot of message which said how an unknown number had threatened to character assassinate him and malign him.

The Zomato controversy: Their business plan, the dispute and a dark tale of greed, exploitation and fear

The controversy stems from deep discounting, favouritism, monopolistic trade practices amongst others, creating a rift between the delivery platforms like Zomato and Restaurateurs

Is Shah Faesal Ajit Doval’s asset? Unlikely, Swati Chaturvedi may be unwittingly helping the central government

Strange rumours are coming out of Kashmir. Shah Faesal, supposedly, is Doval's stooge.

Blast from the past: These past tweets of Kashmiri politicians daring PM Modi to scrap Article 370 are amusing

With today's proposal of revoking Article 370, Kashmir, which had riders attached to it, is now part of India without any conditions.

Shehla Rashid inciting people by sharing fake news, claims of torture and excessive force being used against Kashmiris untrue: Indian Army

In a series of tweets, Rashid had alleged that the situation in Jammu and Kashmir is grim and that the armed forces are using excessive force on the Kashmiris.

Akali Dal leader Manjinder Sirsa accuses filmmaker Anurag Kashyap of deliberately disrespecting Sikhs in season 2 of Netflix’s Sacred Games

Anurag Kashyap, the newfound cultural hero of the ultra-left wing, has a long history of abusing people and resorting to fake news on social media. 

Viral video showing Pakistanis slaughtering cow on Indian flag is real, but it is old

The video showing Pakistanis slaughtering cow on Indian flag is from February 2019

Harvard alumnus IAS officer says Harvard group’s petition demanding release of Shah Faesal was opposed by majority of group members

Harvard alumnus says majority group members had opposed few friends of Shah Faesal who released the statement
Afghanistan's ambassador in the US slam's Pakistan's attempts to link Kashmir issue with Afghan peace process

Afghanistan officially snubs Pakistan, says attempt to link Afghanistan issue with Kashmir is ‘reckless, unwarranted and irresponsible’

Pakistan has been completely rattled ever since India decided to dilute Article 370 and proceeded to bifurcate Jammu and Kashmir
Subscribe to Day's Top Stories
[newsletter_form type="minimal"]
- Advertisment -

Latest articles

Connect with us

Help Opindia Reach Every Indian. Share This Post