A copy of the handwritten statement by K V L Narayan Rao, Group CEO, NDTV
In an exclusive, PGurus lays bare NDTV and its head Prannoy Roy’s claims of innocence. NDTV’s Director and Executive Vice Chairperson K V L Narayan Rao has confessed before Income Tax about floating shell companies in Netherlands and routing money illegally by violating the FDI norms in India. In his 33 page handwritten confession recorded before the Income tax officers, Rao admits how NDTV laundered money through Netherlands and violated the FDI norms by entering into GE group linked firm. The following graphic shows the various entities created by NDTV for this purpose:
The 54 page document of Income Tax exposes NDTV’s frauds in floating shell companies in Netherlands, Cayman Islands, British Virgin Islands and launder and illegal routing of money violating all norms in India. The 54 page document of Income Tax, containing 33 page confession of Rao is a fit case for registering a case under Prevention of Money Laundering Act (PMLA) against Prannoy Roy and gang in NDTV, which envisages imprisonment of three to seven years.
The document is published in the end of this report. Analysing the statement of confession by Rao, Income Tax department says in Page No. 6: “In this regard, it is pertinent to mention that the statement of Mr. K V L Narayan Rao, Director of the assessee company (NDTV) and the then Group CEO, was recorded under on oath under section 131 of the Act on July 23, 2015, copy of which is enclosed. In this statement, in response to question No.3, when asked about the rationale of incorporation of plethora of foreign subsidiaries, he admitted that “the foreign subsidiaries were incorporated to circumvent the restriction imposed by Indian regulations, which confined the foreign direct investment in news channel companies to a maximum of 26 percent,” said an Income Tax Dept. official, on how 150 million dollar from US based GE Group company was flown illegally to NDTV through Netherlands.
Rao’s specific admission of this guilt can be read from Page 17 to 21 on routing money illegally through Netherlands. In the statement Rao admits the role of NDTV’s Managing Editor Vikram Chandra’s in floating a shell Company in London to route money. Barkha Dutt and Sonia Singh are the also Directors of this shell company, now wound up after illegal money routing. KVL Narayan Rao admits how NDTV floated shell companies across the world during P Chidambaram’s tenure in Finance Ministry and routed money through tax havens like Cayman Islands and British Virgin Islands.
The Income Tax findings dated June 2016 along with Rao’s confession or admission of guilt is enough to charge NDTV’s top officers including Prannoy Roy and Radhika Roy under PMLA, which envisages three to seven years of punishment by Enforcement Directorate, apart from violating FIPB rules in connivance with P Chidambaram by CBI under Prevention of Corruption Act. The question is why government agencies are waiting to take action even after the point-blank confession by top NDTV officer K V L Narayan Rao.
NDTV TaxDocuments NarayanRao Statement by PGurus on Scribd
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BullsEye, Thanks for admitting the truth - at least it fits one person called BullsEye.
Great but probe and raid the other channels too with equal doggedness and you will unearth a pandora's box of scams.
Hang the bastards. Boy so much corruption. Must start proceedings straight away no time wasting investigations. That big mouth bakha dutt
Has more to hide. Is she an IS agent! The NDTV is. Man I never watch this channel, it stinks, and against the country. Hold them.
Even now I am not sure if the culprits would get the deserving punishment,
Point is to first get convictions against all involved and the law should provide for confiscation of all assets equivalent to the money involved, else people involved would finish their sentences and come back to enjoy the illegal money.
Absolutely right
The necessary amendments should be made before the thugs are tried
For some people reality bytes. That is why they defend criminals. There is law which will takes its own course, till such time wait and watch. People who are commenting agianst PGurus are why mum when the courts have given bail to P C & his son Karti many number of times. Is the court is not responsible in anyway. Shame on the courts which ais protecting the criminals in the name of law.
Bt ultimately question arises that what has been done..??
What action has been taken against them to stop all these crimes ..??
Do anybody answer..??
I think a learned person should understand the role of Indian judicial system which is headed by the son of a corrupt Congress ex CM of ASSAM. How he can go against the will of the Scamgress. Hamam mai sab nagai hain or in other words he is helping Chidi Chore to save his family . It's a deep rooted conspiracy to save corrupt Congress leaders
In the whole world only pgurus.com seems to have received the handwritten note, seems like he sent them personally. This is a fully fake news site. And funniest part is there are people believing in it. A bunch of Indians will believe anything that is published anywhere on the internet. Rest know better. You can also search online to find this exposed in fake news websites.
Hello Raccoon, seems you Prannoy Roy or his some staffer writing comments in pseudo name. This is late KVL Narayan Rao's confession to Income Tax.
Why doesn't pgurus team also update people on the status of old scams during UPA, like 2G aquittals, CWG, PC's bail status, the NSEL scam, the Augusta scam, the Marans Chennai telephone exchange scam, etc. so people can be reminded before elections and can vote judiciously.
All crap. First bring Nirav Modi n Mehul choksi to India, then we will discuss this
Are you the same Dr RajaRam who manages Sivananda Gurukulam...
Are you a medical practitioner or a dictorate?
How could you get either? ?
Things happen simultaneously with so many thieves around.
Are you the same Dr RajaRam who manages Sivananda Gurukulam...
All investigation will run parallelly.. There is no Que system. :)
Why are you trying to protect NDTV & its Money Laundering?