The investigation on the NDTV frauds and its promoter Prannoy Roy by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) seem to have slowed down. About the slowness of the Securities and Exchange Board of India (SEBI), the less said the better. SEBI, which comes under the Finance Ministry under the “august” leadership of Arun Jaitley has not yet initiated any action against Prannoy Roy for manipulating and rigging the price of NDTV in stock exchanges.
The only commendable action came from the Income Tax Department, which slapped a Rs.425 crores fine and attached 30 percent shares of the TV channel held by Prannoy Roy’s benami company RRPR (P) Limited. Not satisfied with the masterly inactivity of SEBI, recently the Finance Ministry under Arun Jaitley transferred the Chief Income Tax Commissioner SK Mishra and Principal Commissioner PK Ambastha, who were handling the very sensitive NDTV tax evasion case[1]. After Prime Minister’s Office’s intervention, it is learned that Mishra is expected to continue the charges of NDTV investigation.
With all records of insider trading and manipulations by Prannoy Roy and gang, provided in excruciating detail[2] by Team PGurus, SEBI has not moved an inch, except for shooting some letters. The SEBI’s inaction is really a hardship for the CBI and ED as these organizations need the establishment of financial crimes to proceed.
Take the case of CBI. The agency had raided Prannoy Roy’s home in June 2017 in the cheating of ICICI Bank Limited[3]. Despite having solid evidence and even the details of money diversion, till date CBI has not yet summoned Roy and wife Radhika Roy for duping ICICI Bank. This must be the rarest of the cases of CBI whereby they are yet to call the main accused Prannoy Roy, after registering a First Information Report (FIR) and conducting raids seven months ago. It is obvious that some people in the political level must have asked CBI to go slow.
Similar is the case of ED. Though ED has declared that it is registering a case under the Prevention of Money laundering Act (PMLA), nothing has happened till date[4]. The agency is now on the case under Foreign Exchange Maintenance Act (FEMA) for the Rs.2030 money trail of NDTV through the shell companies floated aboard[5].
Why is ED not registering a case under PMLA? Simple. In FEMA, there is only a fine and no jail. But in cases under PMLA, the actual persons behind the money laundering have to be charge sheeted and the minimum punishment is a three-year imprisonment, ranging up to seven years. So is all of the Lutyens gang on a Save Prannoy Mission?
References:
[1] Arun Jaitley’s Finance Ministry transfers top IT officials probing NDTV frauds – Jan 8, 2018, PGurus.com
[2] SEBI Inaction – Oct 2017 – Jan 2018, PGurus.com
[3] At last CBI catches up with Prannoy Roy and Radhika Roy for ICICI bank fraud – Jun 5, 2017, PGurus.com
[4] ED initiates PMLA probe against NDTV: official – Jul 27, 2017, Economic Times
[5] RBI rejects appeal by NDTV to compound the Rs.2030 cr FEMA notice – Mar 3, 2017, PGurus.com
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[…] Have CBI, ED probes on NDTV frauds slowed down? Is SEBI hushing up the probe against Prannoy Roy? Jan 28, 2018, […]
[…] Have CBI, ED probes on NDTV frauds slowed down? Is SEBI hushing up the probe against Prannoy Roy? Jan 28, 2018, […]
There is definitely something murky going on. SEBI the watchdog seems to be pretending to be asleep. Other government agencies are mum. P Roy gets people like the CEA on his channel.
K Gopalan
It will bring disrepute to BJP if they don’t try this case and punish the culprit. NDTV probagates news against BJP and yet they are still not booked and punished. Nation is watching each movement of BJP and to show the society that they are different than others, NDTV must be punished at the earliest opportunity,
It is quite a paradox that NDTV continues to spread lies against the Govt & the country and yet, all BJP fellows including ministers give the channel respect by participating in their debates and also praise it as a channel ‘watched in several countries’!! On top of it, the cases aren’t moving to their logical conclusion. What do they gain by allowing their enemy to escape law? But then, it is also perplexing as to why did they raid PR/RR house & how did the ITO pass the order imposing the penalty!!
Dr Subramanian swamy alone is capable of getting requisite punishment for Prannoy roy, Radhika Roy & NDTV and the NDA Govt is trying to cover up the issue. So, Dr Swamy needs to keep his eagle eye wide open. RSS should also warn Modi about the consequences of protecting the corrupt NDTV for BJP and their value based politics.
Serinder
Is there any hope?
Since most of the politicians are corrupt, we are fit to be slaves of British Rule or President Rule should be imposed for atleast 10 years without legislatures. All politicians are birds of the same feather. They only protect each other and the ultimate victims are the common man. This has been more evident from acquittal of all the accused in 2G Scam.
The cases like NDTV, Lalu fodder Scam, Robert Vadra land deals, National Herald case, Sunanda Pushkar, nothing is happening. These are proofs of to conclusively say India is a banana republic. It is time that banana trees & raw banana be carried & displayed instead of all other things during the republic day parade (all through the year !!), to send & make every Indian to remember that they live in banana republic.
BJP’s fight on corruption is only a election plank & it has no guts nor balls to really go at rich & influential people. It can only chase revenue department staff who survive on Rs.100 bribes. There was a case of a money order for Rs. 40 which somehow got lost & a postman was penalized (suspended from work) for over 25 years. The Post Office initialy wrong & later on enquiry he was proved beyond doubt NOT guilty, but the same post office went upto Supreme Court !!! & heaped misery on that innocent & honest postman.
Modi & his ministrial team are full of talk only & no action. They are no different from Khangress.
Modi’s WAR ON CORRUPTION is pure HOAX. In fact the UPA CRIMINALS seem to be more joyful and bolder now than when they were in power. Raja and co have not only been let off. Raja presents a picture of VICTIMISED MAHATMA. Crook Chidu is utilizing the moron SG’s IE for mi ssile attacks on the GOvt.(ULTA CHOR KOTWAL KO DANTE). Dawood’s right hand Pawar is a Padma awardee now. Not a single dollar has come back from ,Tax Havens.
Is Mukesh Ambani involved with NDTV and Roy with other high profile politicians of all opposition parties? Did the 4 SC judges (puppets of opposition parties) have something to do with this case at all? Or are moles of opposition planted in the high places of FM, ED, CBI?
Such going slow and inactions of the Gov’t, raises doubts whether BJP will get second term??
ED SEBI DRI and even CBI do not have any great track record of prosecution and conviction esp cases involving high places
ED has no great record of any worthwhile action in cases at high places. May be some lowly government or bank official may have been brought to book. In believing that these fellows are going to pursue such high profile cases we are only fooling ourselves.
Mukesh Ambani might be acting as bridge with NDTV for Govt. Otherwise, all the cases against Prannoy Roy and NDTV are with rock solid evidence to put in jail