NDTV owner Prannoy Roy is back! He who preaches ethics entered into a five million dollar investment contract a few days ago, with a tainted group called KJS Group, one of the accused in Coal Scam. Moreover Managing Director Pawan Kumar Ahluwalia is declared as a convict by the Court on May 19 along with Coal Secretary HC Gupta in one of the Coal Scam cases.
KJS Groups is involved in around three cases related to the Coal Scam. The Managing Director is now convicted and Chairman is facing trial.
NDTV’s retail chain Indian Roots and its NDTV Ethnic Retail declared on May 14 that they got an investment of five million dollars (around Rs.36 crores) from KJS Group, which is embroiled in Coal Scam.
NDTV Co-Chairperson Prannoy Roy said this is a fresh investment. KJS Group Chairman Kamaljeet Singh Ahluwalia said “partnering with a respected and credible organisation such as NDTV” was their obvious choice. Please don’t chuckle while reading this statement of KJS Group Chairman Kamaljeet Singh Ahluwalia, who himself is an accused in Coal Scam.
Tainted former CBI Director Ranjit Sinha, who too is under investigation, tried to save the KJS Group from Coal Scam. The promoters are involved in the list of people who used to visit Ranjit Sinha at night. KJS Groups is involved in around three cases related to the Coal Scam. The Managing Director is now convicted and Chairman is facing trial.
The question is how NDTV can justify their association with a tainted company? NDTV itself is facing several cases of tax evasion, foreign exchange violation etc. Is this a match made in heaven? Is this Rs.36 crores from Coal Scam accused/ convict company promoters for some services rendered or a genuine investment? From 2012 onwards this group and its promoters were facing raids and interrogation. Then how come NDTV entered into agreement with these tainted fellows? Why does NDTV want to continue to exist in an alternate reality?
1. The conversion rate used in this article is 1 USD = 64.46 Rupees.
2. Text in Blue points to additional data on the topic.
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