At last the Central Bureau of Investigation (CBI) catches New Delhi Television Ltd. (NDTV) and its major promoter Prannoy Roy, who has been preaching integrity in public life through TV screens for the past three decades. Many of his cronies and friends are now in social media talking about Narendra Modi Government’s vendetta. What is the truth behind the CBI case, you ask? It is sheer banking fraud committed by Prannoy Roy and wife Radhika Roy.
What are the major frauds lead to CBI FIR on swindling money from ICICI Bank in October 2008 with the blessing of people in power?
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ICICI Bank allotted a loan of around Rs.350 crores to a shell company called RRPR Holdings. What is RRPR Holdings? Radhika Roy Prannoy Roy Holdings. This company is just a paper company with no assets.
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RBI and SEBI norms forbid promoters from taking loans to acquire shares of Stock Exchange listed companies. Prannoy Roy and Radhika used this ICICI Bank loan to increase their shareholding in NDTV and manipulated the Stock Exchange norms. This sheer flouting of RBI norms attracts Prevention of Corruption Act too.
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Within a year NDTV repaid the loan less an amount of Rs. 48 crores including interest. This is a crooked method. By taking loan from a bank and using it illegally for manipulating its stocks and acquiring shares and repaying a lesser amount. The details of how the amount of Rs. 48 crores was arrived at is documented on Page 7 of the FIR shown below.
Not satisfied with this, within two days of the loan, Husband and Wife siphoned Rs.92 crores to their personal account! Now after Supreme Court’s landmark judgment in February 2016, private banks also come under the scanner of CBI.
CBI has registered an 88 page FIR which is published below for the reading for the bleeding hearts of NDTV. CBI is acting on the complaint filed by the NDTV’s minority shareholder Sanjay Dutt of Quantum Securities. Sanjay Dutt has been knocking various forums for the past three years with his crystal clear complaint. The FIR has reproduced his complaint in detail, which explains the frauds of Roys in details.
First this NDVT’s ICICI Bank fraud was exposed by veteran journalist and now Minister M J Akbar in Sunday Guardian in December 2010. Now ED is expected to register a PMLA case based on the CBI FIR and attachments of properties will follow soon.
ED has already booked NDTV for FEMA violations of Rs.2030 crores and Income Tax has slapped Rs.525 crores for illegal routing of Rs.600 crores from a subsidiary of GE via Bermuda and Netherlands.
Time is ticking for Prannoy Roy, who had cheated banks and engaged in money laundering in the garb of journalism. His cronies and friends who tasted from this loot will cry hoarse. Let them cry. Law is above all.
For those who shed crocodile tears for Prannoy Roy and NDTV, please read the 88 page CBI FIR published below:
Rc2172017a0009 – Cbi Fir Against NDTV by PGurus on Scribd
His first book NDTV Frauds has been published and is an Amazon Bestseller.It ranked second among all eBooks that were self-published in 2017.
His second book, The Gist of GSTN which too is available on Amazon as an e-Book and as a paperback.
His third book, The Rise and Fall of AAP is also available in print version or as an e-Book on Amazon.
His fourth book, C-Company just released to rave reviews and can be bought as a print version or as an e-Book on Amazon.
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I also have heard that both prannoy and radhika have dual citizenship… that of India and Britain. So they may plan to do a vijay mallya or lalit modi runoff to London.
Why making neusance I typed 3 times but you people might be auditing but for whom?
Other side banks are being strict in giving loans to small entrepreneurs by giving examples of Malya and all , Is there any body who can punish them .
All rules and regulations are ment for middle classes , Upper classes deciding policies and making them implemented in their own way .
I have dozens of examples of scandals who are rooming freely but a small man is being caught in just a small fraud .
No rules and regulations left in our country , everybody knows .
Did we get Independence only to facilitate influential corporates, persons and politicians to loot this Nation?
Raids,investigation are all farce. Let us understand until courts rule a verdict nothing would happen in these cases and most importantly one would never know when the money would be recovered as claimed in violations. Already there are reports here&there that not only few crores are problem in NDTV case but few thousands of crores laundered.
I get a feelin that present regime is getting nervous that people would complain its ineffectiveness in bringing scams to conclusion is taking these steps to create a make-believe perception.
Kishore – I also fear like you as your second para holds lot of water. Law of the land put behind bars for few years for any amount of money when for death penalty the max punishment besides noose is 20 years (i.e. what life imprisonment in India means). I wish – US based system for cumulative no. of incarceration in an unknown jail is first correction needed. Then with money trail – money and property must be confiscated from the beneficiary of such deals. Money beyond salaries paid to star employees of such organisation must also be brought into scanner to also book cases of Rajdeep type who make 50 or 150 crore house in Noida. Then the politicians supporting such organisation must be on rebuke by court in the law itself. Its not to deter politicians to take justified sides but to prevent undue shout to favour cronyism. I wonder if NaMo even intends to be so harsh.
Last week I had pointed out that Roy had rolled his sleeves to mock at you guys in pGurus.Now,am happy finally pGurus has the last laugh,hopefully the caged parrots will investigate the issue in full,frame correct charges and get the crooks punished by sending them to tihar.Congrats to the unique team lead by DrSwamy/Guru/DrVaidya/SreeIyer/Gopi /sanjay? and the unknowns ( to me) who have tirelessly worked towards collaring this smooth talking crook.I get a feeling somehow the current ruler(s) have been arm twisted by you guys to nail the crooks.Hats off..
Prannoy Roy is ‘independent media’ and Kejriwal is ‘Swaraj’!
Read my blog-post to understand the ‘sweet relationship’ shared by NDTV and Arvind Kejriwal.
http://kbforyou.blogspot.in/2017/06/prannoy-roy-is-independent-media-and.html
NDTV, in their updated comment on their website state that raids were conducted by the CBI on their promoters’ property, without proper procedure. There were no preliminary inquiries nor Court Order. Is this correct and if not what is the rebuttal?
NDTV is not a lone ship to be abandoned.No media chancel is honest to allow action to be taken on NDTV.Besides current govt lacks proper reporting regarding the action taken on NDTV and the same shall be utilised by other media for their advantage like the case of sunandha pushkar murder.This is just a gimmick to threaten NDTV to yeild to BJP Whims and wishes.
Be it about the raids on NDTV for its frauds or about Gen. Bipin Rawat’s support for Maj. Gogoi on the issue of tieing stone pelter to jeep to save lives, the anti-Government stand taken by many ‘liberals’ exposes their true face and intent to the people.
What is surprising is their brazen stand despite the solid public opinion in favour of the Government on these issues. This only weakens the position of the ‘liberals’ and strengthens the position of the Government.
Feels good to know that action is being taken ..How long will it take for the logical conclusion and all the ill gotten money to be recovered and the culprits punished under the current state of affairs??
Law will take its course seems the most convenient delay for the guilty in high places ,in India !
Yes, rightly narrated. Our country is a place , where u make frauds and punishment will be given to your next generation or after enjoying life for a qualitative period.
Their tears appear to be extra salty.
Nice summary of an ongoing series of reports by your team.