CBI books NDTV co-founder Prannoy Roy and wife for alleged criminal misconduct

A case has been registered by the Central Bureau of Investigation (CBI) against senior journalist and co-founder of New Delhi Television (NDTV) Prannoy Roy, his wife Radhika Roy along with the CEO and Director of the company Vikramaditya Chandra. The senior journalist and others are being booked under charges of criminal conspiracy, cheating and criminal misconduct.

The investigating agency has registered the case against the journalist and his company on Monday night and has named some of the top-notch people of NDTV along with some other unidentified public servants.

As stated in the FIR registered by CBI, "During the period from May 2004 to 2010, NDTV Ltd floated around 32 subsidiary firms all over the world, mostly in tax havens like Holland, UK, Dubai, Malaysia, Mauritius... Majority of these companies had no business transaction and they were meant only for financial transactions to bring funds from abroad."

The FIR alleges that the transactions did with these countries were fraud transactions and the funds were invested by unidentified public servants through NDTV Ltd. These funds were later laundered back to Indian in the form of several complex transactions. It added that these corruptions made in the name of unknown public servants through NDTV Ltd.

Notably, the NDTV was incorporated on September 8, 1988 co-founded by Prannoy Roy, Radhika Roy and Naryanan KVL Rao (a retired IRS officer) with Vikramaditya Chandra as the CEO-cum-whole-time Director of the company.

The media baron, his wife and others are booked by the investigating agency on charges of criminal conspiracy, cheating and corruption.

The news network allegedly floated 32 subsidiaries all over the world, “mostly in tax havens”, between 2004 and 2010 to bring foreign funds to India through illegal transactions. They are being booked on charges of violation of FDI norms by allegedly floating 32 beneficiaries in countries which are regarded as tax havens.

Also read: Central Bureau of Investigation, Enforcement Directorate Knock at P Chidambaram’s Door

Also watch: CJI Ranjan Gogoi concerned over the number of pending cases in courts