[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]A[/dropcap]fter Income Tax, Enforcement Directorate (ED), Central Bureau of Investigation (CBI) and Delhi Police’s Economic Offences Wing (EOW), Serious Frauds Investigation Office (SFIO) and Registrar of Companies (RoC) have also started probing into the frauds of NDTV and its Stock Exchange manipulations. While all these agencies are inching forward to act against NDTV, the TV channel on April 17 declared its sale of “strategic assets”, leaving doubts on the possible escape of Prannoy Roy to South Africa from Lutyen’s Delhi with the help of “friendly” politicians.
The question is why with all these agencies swinging into action, the Information and Broadcasting Ministry is keeping quiet like a mute spectator? Is it fair for the nodal ministry to keep silence on the blatant illegalities committed by a TV channel?
SFIO has directed Delhi RoC to probe into the NDTV and its promoters’ frauds after the complaint filed by the TV channel’s minority shareholder Quantum Securities Pvt Ltd, led by Sanjay Dutt and Sanjay Jain. Interestingly the SFIO and RoC come under Ministry of Corporate Affairs, headed by the Finance Minister Arun Jaitley. The SFIO was acting on a series of complaints filed by the minority shareholder for the past three years. The complaints were mainly on the series of violations committed by Prannoy Roy and Radhika Roy including the manipulations in Stock Exchanges and violations in Company Law.
Apart from NDTV, the SFIO has asked Delhi RoC to probe into the cheating and violations committed by one Alchemist Group companies in West Bengal and Bihar based Indus Weir Industries Ltd.
The SFIO has also asked RoC to look into the connivance of Securities Exchange Board of India (SEBI) in NDTV’s securities trading manipulations. The question is why with all these agencies swinging into action, the Information and Broadcasting Ministry is keeping quiet like a mute spectator? Is it fair for the nodal ministry to keep silence on the blatant illegalities committed by a TV channel?
Copy of the letter of SFIO to RoC is published below:
1. Text in Blue points to additional data on the topic.
Latest posts by Team PGurus (see all)
- Rahul Gandhi inducts Robert Vadra’s business partner Sreenivasan as new AICC Secretary - June 24, 2018
- Ali Baba and the Forty Thieves – a modern day tale about Indian markets - June 23, 2018
- After taking cognizance under Black Money Act, Special Court summons the corrupt family of Chidambaram on June 25 - June 20, 2018