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. 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 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. 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. 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.
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?
 Arun Jaitley’s Finance Ministry transfers top IT officials probing NDTV frauds – Jan 8, 2018, PGurus.com
 At last CBI catches up with Prannoy Roy and Radhika Roy for ICICI bank fraud – Jun 5, 2017, PGurus.com
 RBI rejects appeal by NDTV to compound the Rs.2030 cr FEMA notice – Mar 3, 2017, PGurus.com
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