More trouble for Prannoy Roy
NDTV promoter Prannoy Roy’s attempts to monetize the 20% shareholding in Malaysian TV Astro Awani before Gautam Adani’s takeover is blocked by the Central Bureau of Investigation (CBI). Astro Awani is owned by Malaysia’s Maxis Group, accused in the Aircel-Maxis case involving former Finance Minister P Chidambaram. Enforcement Directorate already informed the Court in 2016 that Rs.250 crore was received by NDTV from Maxis Group in 2007 as part of the bribery in the Aircel-Maxis deal.
Maxis owners are proclaimed absconders
NDTV through its subsidiary NDTV Networks is having 20% of the total share capital of Astro Awani Network Sdn Bhd, the Malaysian TV channel owned by Maxis Group. The CBI on November 9 dated letter blocked NDTV promoter Prannoy Roy’s attempts to sell these 20% shares in Astro Awani TV channel. The Maxis Group owner T Ananda Krishnan and CEO Ralph Marshal are accused in the Aircel-Maxis case along with Chidambaram and his son Karti. T Ananda Krishnan and Ralph Marshal are fugitives and have not yet appeared in the Court handling the Aircel-Maxis trial.
Prannoy Roy role in Aircel-Maxis scam
Investigators believe, Prannoy Roy was handling Chidambaram’s share in the Aircel-Maxis scam for illegally giving foreign investment clearance to Maxis to acquire the mobile phone company Aircel. Adani Group is now going to acquire more than 26% shares of NDTV from November 22 through an open offer[1]. The agencies – CBI and ED – believe, before Adani’s takeover, Prannoy Roy was trying to get money by selling NDTV’s 20% of Malaysian TV channel Astro Awani.
What is the Aircel-Maxis case?
The Aircel-Maxis scam probe has found that in 2007, Maxis gave Rs.250 crore to NDTV and 20% shares in their TV channel Astro Awani. It is widely believed that this was money parked by Chidambaram for the foreign investment clearance of Maxis Group to buy out the Aircel mobile phone operator in 2006. Former Income Tax Commissioner S K Srivastava has filed a detailed complaint to CBI on the role of NDTV in the Aircel-Maxis scam. Srivastava in his complaint to CBI said that Chidambaram has parked 40 million dollars in NDTV through the Aircel-Maxis scam.[2]
Reference:
[1] Adani’s Open Offer to buy 26% more shares in NDTV starts on November 22. Game over for Prannoy Roy – Nov 11, 2022, PGurus.com
[2] Chidambaram parked 40 million dollar bribe got from Aircel-Maxis deal in NDTV, informs Income Tax Commissioner to CBI – Nov 02, 2018, PGurus.com
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