Monday, November 30, 2020
Home Media Read full details of new FIR filed by CBI: Prannoy Roy, Radhika Roy and...

Read full details of new FIR filed by CBI: Prannoy Roy, Radhika Roy and Vikram Chandra accused of criminal conspiracy, cheating and corruption

CBI alleged that the accused violated Foreign Direct Investment (FDI) rules.

A new FIR has been filed by the CBI against Prannoy Roy, his wife, Radhika Roy, and former CEO of NDTV, Vikram Chandra in a case related to money laundering. It is alleged that the accused violated Foreign Direct Investment (FDI) rules.

The FIR has been accessed by OpIndia.com. As per the FIR, it is a case of tax evasion and how certain income tax officers colluded with them to help them evade justice. It is further alleged that the accused floated subsidiaries in tax haven destinations to route foreign funds to India through sham transactions. It is also alleged that the proceeds of corruption of unknown public servants were invested in NDTV.

The FIR alleges that NDTV incorporated Network PLC (NNPLC) in London on 30.11.2006. The FIR states “M/s NNPLC raised fresh funds amounting to USD 100 million through M/s Jefferies lnternational by the issue of step-up coupon convertible bonds in May 2007. ln this transaction M/s Jefferies lnternational had received USD 5.5 Million as commission. M/s NNPLC transferred Rs. 193,98,44,3251- to various subsidiary companies of NDTV Group viz. NDTV imagine Ltd., NDTV LifeStyle Limited, NDTV Emerging Market BV, NDTV Convergence Ltd. & NDTV Labs Limited.”

In the Netherlands, NDTV allegedly floated a company called NDTV lnternational Holding BV on 10th April 2008 in order to raise funds to the tune of $150 million from NBCU, a subsidiary of General Electric (GE) the USA. By investing the said amount in NDTV International Holding, it is alleged that NBCU acquired a 26% indirect shareholding in NNPLC. It is further alleged, “The said amount was further transferred to subsidiaries of NDTV Ltd. incorporated in Mauritius & London & finally the said amount was received in subsidiaries of M/s NDTV such NDTV lmagine Ltd., NDTV Lifestyle, NDry Lab, NDTV convergence, NDTV NGEN and NDTV studio incorporated in India.”

Charges of criminal conspiracy, cheating and corruption have been slapped on the accused. The FIR states, “M/s NDTV Ltd. through its promoters viz. Sh. Prannoy Roy and Mrs Radhika Roy, Sh. KVL Naryanan Rao (since expired), Sh. Vikramaditya Chandra had entered into a criminal conspiracy with unknown public servants with the object of bringing tainted money of unknown public servants through a web of complex transactions through the FDI route. The aforesaid acts of omission & commission on the part of Sh. Prannoy Roy, Smt. Radhika Roy, Sh. Vikramaditya Chandra & Sh. KVL Naryanan Rao and unknown public servants & others prima facie disclose the commission of cognizable offences under Indian Criminal Laws.”

The FIR states that NNPLC, London got approval from the FIPB board in violation of the existing FDI provisions. Furthermore, the said amount was invested in various subsidiaries of NDTV through a network of a complex transaction. A case has been registered against NDTV, Prannoy Roy, Radhika Roy and Vikram Chandra and unknown public servants under sections 120-B IPC r/w 420lPC and Sec 13(2) r/w 13 (1) (d) of PC Act, 1988.

Recently, Prannoy and Radhika Roy were prevented from leaving the country. In a statement, NDTV had called it a subversion of press freedom. There are other grave allegations against the Roys, an FIR was filed against them in June 2017 in the ICICI Loan Fraud Case. The details of the case can be read here.

  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

Farmer thanks PM Modi for mentioning him during Mann Ki Baat, narrates how the passage of Farm Bills helped him

PM Modi's Mann Ki Baat speech came just as the issue has been raked up once again as ‘farmers’ from Punjab and Haryana have marched towards Delhi to protest against the farm bills.

SFJ ads appear on YouTube offering $10m support for farmers, in return, wants Sikhs to join ‘Khalistan movement’: Details

Amid ongoing farmers’ protests in Punjab, Haryana, and Delhi, it is evident that Khalistani supporters have hijacked the protests and now, they are running ads on YouTube

A year after quitting Congress over ‘petty politics’, Urmila set to join Shiv Sena, to be nominated as MLC

Urmila Matondkar is expected to be nominated as MLC by the Shiv Sena led Maharashtra government

Indian man proposes to his Australian girlfriend during Ind vs Aus cricket match, here is what happened next

While India's performance has been below par, netizens found happiness in the unusual proposal that became the highlight of the match.

NIA refutes claims about ‘activist’ Stan Swamy’s straw and sipper seized by agency. Read details

NIA stated that when Stan Swamy's personal search was undertaken in presence of two independent witnesses no such straw or sipper was found on him as claimed by him.

France, Germany, UK and all other countries we should boycott for using water cannon and tear gas

As a newly woke nation, we also have a moral responsibility to oppose other countries that carry out atrocities such as using water cannons on protesters.

Recently Popular

Wife of late Wajid Khan writes on her sufferings in an inter-faith marriage, says anti-conversion law should be nationalised

Wife of late music composer Wajid Khan wrote how her husband and his family had been forcing her to convert to Islam after their marriage

Actor Deep Sandhu disappoints Barkha Dutt after she provides platform to ‘distance himself’ from OpIndia report that he supports Khalistan

Barkha Dutt lamented after actor Deep Sidhu refused to condemn Jarnail Singh Bhindranwale and to call him terrorist on her YouTube channel

Who is the man in farmer protest video, lying about ‘govt snatching farmland’: Profile of an actor and Khalistan supporter

Khalistan supporter Punjabi actor Deep Sidhu has been seen spreading the lie that govt will snatch farmer's land using the new farm laws

‘Will not say Jai Hind, will teach lesson to Modi like we taught Indira’: Khalistani protester in presence of AAP MLA Amanatullah Khan

Sikh protester threatens to teach Modi a lesson in the save way they taught Indira Gandhi in the presence of AAP MLA Amanatullah Khan

Indian man proposes to his Australian girlfriend during Ind vs Aus cricket match, here is what happened next

While India's performance has been below par, netizens found happiness in the unusual proposal that became the highlight of the match.

As Iran vows to avenge their nuclear scientist Fakhrizadeh’s murder, read how 62-member squad planned and carried out his assassination

The killing of Fakhrizadeh is the latest in the serious high-profile assassinations of people belonging to Iranian regime since the assassination of General Qassem Soleimani.

Farmer thanks PM Modi for mentioning him during Mann Ki Baat, narrates how the passage of Farm Bills helped him

PM Modi's Mann Ki Baat speech came just as the issue has been raked up once again as ‘farmers’ from Punjab and Haryana have marched towards Delhi to protest against the farm bills.

Rebellion inside Rahul’s Congress grows, Anand Sharma defies party line, hails PM Modi for visit to Coronavirus vaccine hubs

A day after Congress criticised PM Modi's visit to Coronavirus vaccine hubs, senior Congress leader Anand Sharma has defied the party line

From support for zamindars to ‘protest will help overthrow Modi govt’: A saga of clueless people at farmer protest

A series of interview of protestors by the team of Know the Nation reveals how many of these protestors are completely clueless about why they are there

SFJ ads appear on YouTube offering $10m support for farmers, in return, wants Sikhs to join ‘Khalistan movement’: Details

Amid ongoing farmers’ protests in Punjab, Haryana, and Delhi, it is evident that Khalistani supporters have hijacked the protests and now, they are running ads on YouTube

President of farmer organisation says they will block all five entry points to Delhi because Burari park is an ‘open jail’: Details

The farmers protesting against the Modi government over new farm laws have rejected Union Home Minister Amit Shah’s proposal for a discussion on their grievances.

A year after quitting Congress over ‘petty politics’, Urmila set to join Shiv Sena, to be nominated as MLC

Urmila Matondkar is expected to be nominated as MLC by the Shiv Sena led Maharashtra government

‘Haven’t you seen how they cry, do ‘haye tauba’: Here is what Amit Shah said, responding to Owaisi’s comment about illegal Rohingyas

Amit Shah said when he takes action against Rohingyas and Bangladeshis back, leaders like Owaisi stand against him in Lok Sabha.

Indian man proposes to his Australian girlfriend during Ind vs Aus cricket match, here is what happened next

While India's performance has been below par, netizens found happiness in the unusual proposal that became the highlight of the match.

NIA refutes claims about ‘activist’ Stan Swamy’s straw and sipper seized by agency. Read details

NIA stated that when Stan Swamy's personal search was undertaken in presence of two independent witnesses no such straw or sipper was found on him as claimed by him.

France, Germany, UK and all other countries we should boycott for using water cannon and tear gas

As a newly woke nation, we also have a moral responsibility to oppose other countries that carry out atrocities such as using water cannons on protesters.

Connect with us

245,563FansLike
490,968FollowersFollow
20,200SubscribersSubscribe