It is time to call your bluff, Mr. Roy

Is Prannoy Roy trying to create a reality distortion field?

Is Prannoy Roy trying to create a reality distortion field?
Is Prannoy Roy trying to create a reality distortion field?

For setting the context, I am reproducing your two tweets of yesterday –
NDTV tweets of yesterday
Knowing the importance of the role a media company plays in the society, everything written here has been diligently checked, and backed with facts. You the promoter of NDTV have used a smoke and mirrors strategy for the past several years, to swindle money from your company. No method was spared – you evaded taxes, you have laundered money and you have manipulated the stock market. And you did all this in plain sight!

The deeper the digging, the more alarming the facts. NDTV has flouted rules and regulations with impunity with nary a care for any government body. It is even more astounding that these agencies have shown amazing alacrity in looking the other way when you were committing all these fraudulent activities.

SEBI Violations

This compilation has been done from filings by NDTV, Banks to the Stock Exchanges and Registrar of Companies. Please refer to the table below titled NDTV Stock trades from Dec 2007 to Aug 2009

  • 1, 2, 3 were claimed as Open Market purchases but the email of Mr. K.V.L. Narayan Rao states that it is a negotiated/ pre-meditated deal when he makes a public statement in moneylife.in on June 21st 2013.
  • In 5, when you announced an Open Offer for acquiring 20% of the company shares totaling about Rs. 550 crores, you along with your CA certified that you had the money to cover the entire 550 crores. Then why did you go and get a loan from India Bulls?
  • Item 7 shows that Goldman Sachs Mauritius purchased 8.16% shares in the Open Market via the FII route. This is very strange and violates Regulations, even before arranging funds (see Point 9 above) the Promoter sells 5.1 million (51,06,518) shares worth approximately Rs. 200 crores ($30 million).

I can go on… There are a total of 25 such transactions, many of which do not pass muster. How did SEBI not frown on these? Was this ineptness on part of SEBI or were they told to lay off NDTV?

Ministry of Information and Broadcasting (MIB)

According to the directives issued by the Ministry of Information and Broadcasting on December 2, 2005, Section 3.1.4, any share purchase along with the full details of Shareholder agreements have to be submitted to the MIB and ratified before they can take place.

  • RRPR Holdings did not seek permission from MIB to buy shares in NDTV. RRPR bought up to 26% of the company, which is a critical limit. All the sales were done without getting the permission of MIB. The penalty for this is described in the same directives document (also shown below) under section 8.2.1, reproduced below in italics:
    In the event of first violation, suspension of the permission of the company prohibition of broadcast up to a period of 30 days (emphasis mine)

  • This should have been done years ago! What is even more surprising is that even after being caught showing sensitive army information on Live TV, NDTV escaped a nominal one-day ban! Why did MIB buckle? Was there any quid-pro-quo deal setup to let NDTV off?

  • How was an employee of Goldman Sachs inducted into the Board without permission from MIB?

Below find a list of 8 major set of violations committed by NDTV:
Page 1 of Promoter Violations
Page 2 of Promoter Violations
Page 3 of Promoter Violations
Page 4 of Promoter Violations

Conclusion

It is a mystery as to how NDTV got TV Channel license in 2003 despite Roy being named in an FIR for cheating and siphoning of funds from Doordarshan! Many are violations of departments that come under either the Ministry of Finance or Registrar of Companies. Who is shielding NDTV in these departments? The Nation wants to know.

NDTV Stock trades from Dec 2007 to Aug 2009

NDTV Trades and Transactions Froml Dec 2007 to 2009 by PGurus on Scribd

MIB Directives dated December 2, 2005

Ministry of Information and Broadcasting Directives by PGurus on Scribd



Note:
1. The conversion rate used in this article is 1 USD = 66.16 Rupees.
2. Text in Blue points to additional data on the topic.

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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.

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12 COMMENTS

  1. All these comments against RRPR – particularly Prannoy – truth has to triumph…even going to the extent of calling their own gujrati bhai – Mahatma Gandhi a chatur baniya? Shows how hollow ruling govt has become…particularly liked the way they turned every argument/favour meted out to PR into a curse/fraud….political witch hunt indeed.

  2. It’s time all these corrupt congressi, communist goons pay price for their crimes.. It is so worry some that there was no system for checks and balances, and political leaders, supposed to be peoples’ servants did these crimes openly, again and again..!

  3. Many years back ,when N D V T was rising in its fame , on one of their celebration-shows , Mr.Pranab Roy ,drunk on success , had said to the audience , ” You a’nt seen nothing yet ” .
    How prophetic your those words were to be ,Mr.Roy.
    Yes , we a’nt seen nothing like the NDTV yet , so full of frauds and falsehood.
    How could they ever cheat the nation whom they were supposed to serve ?
    This is like the police man turning out to be a thief.

  4. Carefull – don’t go hammer and thongs- else, he will have a scheduled trip to London or would it be Dublin as his mother is Irish?

  5. After being the brother in law of Brinda Karat and co brother of Prakash Karat had its own advantages with a friendly Sonia Manmohan Singh Government at the centre

  6. It is well to produce all the validated evidence against NDTV but what is happening on the ground. Where are the prosecutions?

    • All in good time. And with enough time and warning to make scheduled trips abroad. Jack of all Ministries will take care.

  7. Will Swamy shoot off a letter to PM on this or dodge as usual saying it is upto him to decide what,when,timing etc ?

  8. Awesome analysis!! Simply awesome. I salute you Mr Sree Iyer. Kindly do not rest till you send the sophisticated, soft-spoken and “suit-boot” dacoit to the jail. I’ll pray for your success.

    • I fully endorse your views and fully support all efforts by PGURUS in succeeding to send Prannoy Roy and his gang to TIHAR Jail.The sooner the better for our Motherland.

  9. crooked roy finally has rolled up his sleeves and said enuf of this non sense.He has got virually everyone by theiur goolies,, who is to nail him?

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