Did Jeff Immelt and Zucker create the shell companies of NDTV?

Mr. Roy, there is no end to your fantasies – On the one hand, you are challenging a Delhi High Court judgment[1] in the Supreme Court and on the other, you are writing to the Prime Minister complaining about Dr. Subramanian Swamy like a crybaby.

Mr. Roy, the facts can not be more Black and White. Delhi High Court has confirmed that the penalties and taxes levied on you are valid. Name dropping won’t help you. By quoting the names of former heads of industry and creating a fear that Swamy will cause a drop in FDI/ FII is ridiculous.

Are you concerned that you will not get justice at the Supreme Court? Is that why you wrote this mercy plea on a specious reason that what is happening to NDTV will affect Foreign Direct Investment (FDI) and Foreign Institutional Investors (FII)?

A Delhi High Court bench consisting of S. Ravindra Bhat and Najmi Waziri pronounced on August 10, 2017 in the case of NDTV vs Deputy Commissioner of Income Tax [DCIT 18(1)] stated in Para 57 on Page 50 clearly states that the Assessing Officer (AO) acted correctly (under Section 281B) and that the assessment is valid. This is a high court judgment, which you said you will now appeal in the Supreme Court.

In Para 41, Page 44 (handwritten page 43), the court agrees with the AO that NDTV created the complex and circuitous structure of subsidiaries… to avoid declaring an income (tax evasion).

I am showing below the series of shell companies you had setup (see Figure 3). Notice how other than giving the money, Universal Studios or its then parent General Electric (GE) had nothing to do with how you got the money in. GE is a $128 billion company. The CEO of neither GE (Jeff Immelt) nor NBC (Jeff Zucker) would have been involved in a $150 million transaction. I know how multinationals work. This would have been handled at a much lower level. My research shows that it was done by a team consisting of

1. Peter Smith, the then head of NBCU International[2],
2. Julian Tomkins, the Senior Vice President of NBC Universal[3] and

It is interesting to note that neither of them work at NBCU anymore. Did this have anything to do with their investment in NDTV?

In Para 30, Page 31 (handwritten page 30), the court observes that the AO had cross-checked the data from two different sources and found them to match.

I would also like to mention that in another matter WPC 984 of 2015 (before Delhi HC) in Quantum Securities P Ltd. vs Enforcement Directorate (ED) and Others[4], the ED has clearly stated that they have prima facie found money laundering and have registered a First Information Report (FIR) in your name and against NDTV under Prevention of Money Laundering Act (PMLA)(see below). Further, on the next date (Feb 8^th 2018), ED has made submissions before the Court that they have summoned various individuals for questioning on dubious dealings in your personal company – RRPR Holding P Ltd. Of course, ED cannot make unfounded or frivolous allegations before the Delhi High Court without having cogent evidence or other material against you.

Mr. Roy, the facts can not be more Black and White. Delhi High Court has confirmed that the penalties and taxes levied on you are valid. Name dropping won’t help you. By quoting the names of former heads of industry and creating a fear that Swamy will cause a drop in FDI/ FII is ridiculous.

Let the law of the land prevail. You are just another citizen of India and the law will treat you as such.

Order WPC 984 of 2015 October 31 2017 by PGurus on Scribd

References:
[1] Quantum Securities Pvt. Ltd. vs the Director Directorate – Aug 10, 2017, Scribd.com

[2] NBCU Int’l President Peter Smith exits – Mar 2011, Deadline.com

[3] Julian Tomkins Profile – Linkedin.com

[4] Order WPC 984 of 2015 October 31 2017 – Scribd.com

• Author
• Recent Posts

Follow me

Sree Iyer

An inventor and out-of-the-box thinker, Sree Iyer has 37 patents in the areas of Hardware, Software, Encryption and Systems.

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.

Follow me

Latest posts by Sree Iyer (see all)

• Indian Parliament’s Special Session is convened to mark the shifting to new Parliament building - September 3, 2023
• Why did Rajat Sharma of India TV not declare that Adani owns more than 16% shares in his channel? - January 29, 2023
• Prannoy Roy to get Rs.605 crore from Adani as per Stock Exchange filing. Why is Income Tax not acting on Roys’ dues of over Rs.800 crore? - January 4, 2023