Home Media Raghav Bahl claims his companies are clean, but how 'clean' are they really?

Raghav Bahl claims his companies are clean, but how ‘clean’ are they really?

News surfaced this morning that the residential premises of The Quint’s founder, Raghav Bahl, and the office premises of digital media portal The Quint have been raided by Income Tax sleuths.

Before the facts even came to the fore, Raghav Bahl had already released a statement to the Editor’s Guild of India. Interestingly, almost simultaneously, Shekhar Gupta who heads the Editor’s Guild also tweeted, as usual, calling it an act to stifle free speech.

Shekhar Gupta asserted that these Income Tax raids are to ‘intimidate’. He said the government should explain themselves otherwise it would look like they are targeting critical media.

- Advertisement - - Article resumes -

Raghav Bahl in this statement released to the Editor’s Guild said that they are a ‘fully tax compliant’ company and they will provide all financial documents. In a threatening tone, Bahl also asserted that if other documents that might have sensitive information pertaining to their journalism is touched, they will take “strong recourse”.

However, while Bahl has asserted that he was and has been fully ‘tax compliant’, and he may as well be, one recalls Bahl’s name cropping up in the Paradise papers.

It is reported that the US conglomerate Viacom entered into a 50-50 joint venture with Raghav Bahl’s Network 18 to set up Viacom 18 which, in turn, launched various subsidiary companies that were incorporated by Appleby in different tax havens. This joint venture and the subsequent subsidiaries which were launched allegedly in tax havens happened in the year 2007. It is worthy to note that when this transaction allegedly took place, Raghav Bahl was the managing director of the Network 18 before it changed ownership to Reliance in 2014.

What was widely covered in the media, Appleby data showed various links between Network 18 and 4 offshore entities. Three of these entities were listed in the balance sheet.

The report says:

“Bahl, as Director of the Network18, handled the affairs of the two other offshore companies and submitted applications for de-registration. The first application was for Network 18 Holdings Ltd which, on 19 April 2012 passed a special resolution. On 30 April, 2012, another application was filed for the company in the Cayman Islands, where it was registered in 2006, to be de-registered “by way of continuation” in Mauritius. The second company for which the de-registration process was undertaken by Bahl was Web 18 Holdings Ltd. This company, also registered in 2006, made a request to Appleby on 18 September 2012, for being taken off the registry of Cayman Islands and shifted “by way of continuation” to Cyprus.”

Raghav Bahl’s name also came up in the INX media scam briefly.

As per a report on the Statesman, “As per the income tax report, two media firms – INX Media and Network 18 — had in 2008 allegedly bribed Karti for getting FIPB approvals. At that time, INX Media was co-owned by Peter Mukherjee, and Network 18 that runs TV channels like CNN-IBN and news portals was controlled by Raghav Bahl, who now runs the Quint website”.

The CBI had filed an FIR in the INX scam case in May 2017 alleging that Karti had received a bribe of Rs 3.5 crores from the Peter and Indrani Mukherjee owned INX Media Pvt Ltd. INX Media was later named as 9X.

Today, the Enforcement Directorate has reportedly attached properties and bank deposits of Karti Chidambaram worth around Rs.54 crores in connection with the INX Media case.

The specific reasons for the ongoing raids against Raghav Bahl are still unclear, however, there have been sufficient speculations around his financial dealings in the past.

Sharing is caring - Share This Post and Support:
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.


Most read articles recently

AltNews co-founder caught shielding Islamists following the Sri Lanka terror attacks

Altnews cofounder seems to have graduated from sharing fake news himself to shielding radical Islamists

Cambridge University confirms that Rahul Gandhi did his M.Phil using the name Raul Vinci

Cambridge University confirms that Rahul Gandhi did his MPhil using the name Raul Vinci

Shekhar Gupta says ‘latest’ CVoter survey predicts BJP getting 220 in 2019 elections, Yashwant Deshmukh calls it fake news

Yashwant Deshmukh of CVoter, putting the record straight said that CVoter has respected the Election Commission embargo and has not released any vote or seat numbers once the election process started.

Rahul Gandhi talks while PM Modi delivers the Make In India promise: Apple to shift mass production of iPhones from China to India

While Bengaluru unit of Apple was already manufacturing older models, the new facility will manufacture newer phones

Air Vistara senior officials visit Gen GD Bakshi, apologise for deleting the tweet honouring him

Sanjiv Kapoor, Chief Strategy & Commercial Officer, and Deepa Chadha, Senior Vice President – Human Resources & Corporate Affairs or Air Vistara visited Maj. Gen. Bakshi and tendered an official apology

Watch: Digvijay Singh spreads the Rs. 15 lakh lie at a public rally, boy does a ‘surgical strike’ on him

Congress leader Digvijay Singh, while addressing a public rally and attacking Prime Minister Narendra Modi, tauntingly asked the people whether they received the amount of Rs 15 lakh in their accounts.
Web of dubious transactions featuring 'RG', 'SG', 'AP' and 'DKS': Tale of Kempareddy Govindaraj, Parliamentary Secretary to Siddaramaiah and the seized diary

Web of dubious transactions featuring ‘RG’, ‘SG’, ‘AP’ and ‘DKS’: Tale of K Govindaraj, Parliamentary Secretary to Siddaramaiah and the seized diary

In March 2016, the IT Department conducted raids on K. Govindaraj, Parliamentary Secretary to the then Chief Minister of Karnataka, Siddaramaiah and a member of the Legislative Council of the state.

‘Liberals’ addressing Yogi Adityanath by his birth name is a reflection of their deep seated Hinduphobia

The elevation of Yogi Adityanath to the seat of Chief Minister of India's most populous state ruffled many feathers and it's hardly surprising that they are throwing everything at him in the desperate hope that something will stick.

Convenor of Delhi Congress IT cell shares badly edited video accusing PM Modi of using an abusive word

Congress' Gaurav Pandhi has earlier also spread misinformation to attack the central government

Latest articles

Connect with us

156,879FansLike
129,628FollowersFollow
54,349SubscribersSubscribe

Don't miss these

Sharing is caring - Share This Post and Support: