Dr.  Roy, If you have not touched black money, declare how much you got from the sale of 4 subsidiaries

Dr. Roy must disclose the terms of the deal of sale of the 4 NDTV subsidiaries
Dr. Roy must disclose the terms of the deal of sale of the 4 NDTV subsidiaries

It is now 10 days since the sale of 4 subsidiaries of NDTV to the Coal Scam accused company KJS Group’s Nameh Hotels.  A few days before this doubtful sale violating the Income Tax Department’s directions, Prannoy Roy in a Press Club meeting claimed that he and his wife never touched black money in their life! Well, would Dr. Roy care to elaborate the details of this sale, including how much Black Money he got?

…Prannoy Roy is bound to tell the value of the sale of his four subsidiaries that he declared to the Stock Exchanges. The Nation Wants to Know. And the Income Tax Department definitely wants to know!

On June 23, NDTV declared to the Stock Exchanges through a postal ballot their decision to sell their subsidiaries like NDTV Lifestyle Holdings Limited, NDTV Convergence Limited, NDTV Worldwide Limited and NDTV Ethnic Retail to the KJS Group linked Firm Nameh Hotels.  If Prannoy Roy is transparent in this dealing, he would have to declare the value of this sale. These subsidiary companies just own a few staffers and some websites and e-commerce units.

A few days before this, the  Income Tax Department (ITD) had issued a directive to NDTV and the Nameh Hotels about the illegality of this sale deal, reminding them that the TV channel owes around Rs.540 crores as tax dues. This might have been the reason for Prannoy Roy to hush-up the value of the deal. Dr. Roy, if you never touched any black money, then why don’t you go ahead and reveal the terms of the deal?

There is a buzz in the market that NDTV is trying to sell some of its assets or shares to Indian Express owned by Vivek Goenka and son Anant Goenka. This buzz was first tweeted by RPG Group Chairman Harsh Goenka on June 30th (IST). However neither Ananth Goenka nor NDTV has not yet responded to this.

Fig 1. Harsh Goenka tweet on IE and NDTV

BJP leader Subramanian Swamy went further on July 3 on this much talked Indian Express and NDTV deal. He alleged that Congress leaders are trying to pump money to NDTV through Indian Express.

Fig 2. Swamy tweet on alleged cash infusion attempt into NDTV

Prannoy Roy is duty bound to his stockholders and must tell the value of the sale of his four subsidiaries that he declared to the Stock Exchanges. The Nation Wants to Know. And the Income Tax Department definitely wants to know!

A copy of NDTV’s declaration to Stock Exchanges on the sale of four subsidiary companies published below:

Fig 3. NDTV Company filing at Stock Exchanges

Note:
1. Text in Blue or underlined points to additional data on the topic.

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