12 Questions for Prannoy Roy and friends

Prannoy Roy asserts he has not touched Black Money ever in his life - 12 questions for him

If not Black Money, then can Prannoy Roy answer what these 12 questions mean?
If not Black Money, then can Prannoy Roy answer what these 12 questions mean?

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]M[/dropcap]r. Prannoy Roy made a laughable statement in his Press Club speech that he and his wife never touched black money. In this context, we are asking 12 questions to Prannoy Roy and his supporters. After laundering and routeing illegal money, tricking Stock Exchanges and Bank frauds the unscrupulous gang in media are trying to take cover in the name of Journalism. Can these people answer the below mentioned 12 questions?

…Prannoy Roy and Radhika Roy have evaded taxable income of Rs.47 crores each through collusive transactions of sale/purchase of share of NDTV at the ridiculously low price of Rs.4 per share as against the quoted price share of NDTV at Rs.140 per share on Stock Exchange was confirmed by the Appellate Authority?

  1. Whether Income Tax Department and Enforcement Directorate have started investigation of the tax evasion charges against NDTV Group and its Promoters Prannoy Roy and Radhika Roy since 2011 and 2012 respectively and an Assessment Order holding that NDTV Ltd had carried out money laundering of more than Rs.642 crores through its shell company in Netherlands was issued on February 21, 2014 during UPA regime?
  1. Is it true that Promoters of the NDTV incorporated and operated 32 companies in India, UK, Netherland, Mauritius, Sweden and UAE of NDTV during 2006 to 2012 which included 14 foreign subsidiaries having no employees, no business activities and no place of business? Then why did you, Prannoy Roy, float these paper companies?
  1. Whether 13 foreign paper companies were liquidated immediately after routing and laundering concealed income of Rs.1100 crores?
  1. Whether US giant General Electric’s (GE) subsidiary company in Bermuda invested Rs.642.5 crores in the paper company of NDTV in Netherlands, which was formed just a month back for this huge investment? This shell company of NDTV in Netherlands had no staffer, no place of business and no business. And immediately after the investor resold these shares having the investment value of Rs.642.5 crores to the same subsidiary of NDTV at Rs. 58 crores leading to a loss of Rs.580 crores to them in just 18 months. Can Prannoy Roy explain this curious deal?
  1. Whether the Assessment Order of the Assessing Officer (AO) proving and holding that unaccounted money of Rs.642.5 crores of the NDTV Group was laundered through a paper company of NDTV in Netherlands has been confirmed by Dispute Resolution Panel?
  1. Is it true that Income Tax Department has raised a tax demand of Rs.514 crores on NDTV Ltd?
  1. Whether unidentified entities located in Switzerland, British Virgin Island, Cayman Island had invested unexplained fund of Rs.400 crores in a paper company of NDTV in UK in the year 2008?
  1. Whether copies of email correspondences amongst Prannoy Roy, Radhika Roy, KVL Narayan Rao, Vikram Chandra and Vivek Mehra of PWC clearly prove that promoters of NDTV actually made conscious efforts to hide the true nature of routing of the transaction of the fund of 1100 crores using its shell companies in UK and Netherlands?
  1. Whether holding company of NDTV – RRPR Holding Pvt Ltd – controlled by Prannoy Roy and Radhika Roy has covertly sold the controlling interest in NDTV Ltd at sale consideration of Rs.403.85 crores by wrongly classifying the sale consideration as loan and without paying capital gain tax?
  1. Whether Prannoy Roy and Radhika Roy have sold/ purchased shares of NDTV quoted at Stock Exchanges at Rs.140 per share in the year 2009-2010 at ridiculously low price at Rs.4 per share leading to syphoning of fund of Rs.95 crores of RRPR Holding Pvt Ltd by the Promoters?
  1. Whether the Order of Assessing Officer that Prannoy Roy and Radhika Roy have evaded taxable income of Rs.47 crores each through collusive transactions of sale/purchase of share of NDTV at the ridiculously low price of Rs.4 per share as against the quoted price share of NDTV at Rs.140 per share on Stock Exchange was confirmed by the Appellate Authority?
  1. Is it true that Income Tax Department has raised tax demand of Rs.30.54 crores each on Prannoy Roy and Radhika Roy out of which tax demands of Rs.14 crores each was confirmed in appeal?

So Prannoy Roy and Friends, any answers to these questions?

Note:
1. Text in Blue points to additional data on the topic.

9 COMMENTS

  1. I am really amazed at the arrogance of Prannoy Roy that he thinks NDTV is ‘the’ media.I am seriously waiting for the answers to questions posed by him or his friends who spoke in Press Club of India

  2. It seems GE is paying commission money to some Indian politicians through NDTV. We have to look in to GE’s business deals in India during that time.

  3. These “freedom of press fighters” should be exposed. They are hiding behind “freedom” mascot and hide their economic frauds and corruption.

  4. Rs.140 per share of NDTV, how Roy and wife traded for Rs.4? This is a real crime and what is SEBI doing? This is a clear stock exchange manipulation In US Rajat Gupta and Rajartnam faced jail terms for Stock manipulation.

    • who is the SEBI answerable to in present Modi Govt and why not Swamy write a letter to concerned authorities cc PM Modi as he often does irrespective of when the violation may have happened ?

      • So divert the attention of people from theft and crime by NDTV to the PM? He he he! Nice try minion of the leftists ANTI-NATIONALS, but we are not about to blame the PM SEBI OR SWAMY. Had you used sonia and kangress we might have let you blabber some more!

  5. I really look forward to your well researched and detailed articles. I am someone who deals with technical writing where a technical concept or idea has to be presented with data and supporting information. I have a piece of comment, advice for Team PGurus: Please have the article reviewed for grammar and punctuation. It costs only a few mins but it improves the quality of the article manifolds. If we want to take on the pseudo liberals and their agenda/propaganda, we need to do that with quality articles that are of the highest publishing standards.

    • Everyone needs help.This suggestion has merit.Having said that,Good work of pGURUS should not be laughed away on few commas and semi colons or nit picking on grammer or context as long as the article makes sense.

      • Sathya’s can’t be both “suggestion” that has merit and something that “laughs away” the good work of Pgurus.
        I won’t even describe that as a “suggestion”. Competent and conscientious sub-editing is the sine qua non of good publishing.
        We don’t expect to encounter errors and ungrammatical/unidiomatic sentences in Penguin books or The Guardian or The New York Times.
        One must bear in mind, however, that every publication differs from others in terms of the resources that are needed to meet the quality standards.
        That goes some distance in explaining the differing quality standards evident in different publications.
        It’s also imaginable in a few cases that the publisher is not adequately appreciative of those standards or doesn’t care enough for them.
        I am inclined to go with the view that in this day and age of fast-paced and mind-boggling media production and propaganda, content not meeting highest quality standards is — in some circumstances — justifiable if not wholly desirable.
        At the same time I hold it as a truism that the level of purity and unambiguity of communication is an index of the honesty and integrity of the communicator.

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