Will those bleeding hearts explain Sunday Guardian expose on NDTV’s ICICI Bank frauds?

The banding together of sections of media to support NDTV in a cause that involves its promoters shows their ignorance

The banding together of sections of media to support NDTV in a cause that involves its promoters shows utter ignorance
The banding together of sections of media to support NDTV in a cause that involves its promoters shows utter ignorance

Is Indian media really independent and believes in the concept of ‘Freedom’? Since last Monday, every media house/ journalist has been raising voice on the attack of independence of Media. Today’s meeting of journalists at Press Club of India, aired live by the electronic media is another example in that reference.

Most of the speakers accused the CBI and Prime Minister Narendra Modi for attacking NDTV. Some even accused the complainant and minority shareholder Sanjay Dutt without knowing facts.

Around 200 to 300 journalists attended a protest meet on the Central Bureau of Investigation (CBI) case against New Delhi Television Ltd. (NDTV) owners Prannoy Roy and wife Radhika Roy for ICICI Bank fraud. Most of them were NDTV’s existing staffers and Left wing journalist unions. Most of the speakers accused the CBI and Prime Minister Narendra Modi for attacking NDTV. Some even accused the complainant and minority shareholder Sanjay Dutt without knowing facts.

All speakers made this bank fraud case of Prannoy Roy as attack of freedom of press or even dared to compare it to Ramnath Goenka and Indian Express iconic struggles against Indira Gandhi’s Emergency.

The assembled journalists and speakers conveniently forgot that NDTV’s ICICI Bank fraud was first exposed from their fraternity itself. It was M J Akbar edited Sunday Guardian that exposed the frauds of Prannoy Roy in getting Rs. 375 crores from ICICI Bank in October 2008. The article (see Figure 1) appeared on December 5, 2010. Due to his clout in the UPA Government and friendship with a powerful few in this BJP Government, Prannoy Roy has been evading law for the past seven years.

This article was published in Sunday Guardian in 2010. Why did no one oppose it?

Amazingly in none of the live telecasts on the issue of CBI raids on the premises of the promoters of Media Company, asked Roy this simple question – Why has he till date not made proper disclosures about the benami entity who has made investment of Rs.403.85 crores in his Company and got control of NDTV Ltd AS DETERMINED BY SEBI and ITD? Why didn’t Shourie, Ninan and Shekhar Gupta ask about these shady dealings and source of funds / true ownership of NDTV?

This is the Sunday Guardian front page article on December 5, 2010:
December 8 2010 article in Sunday Guardian
The same edition also published another set of tax frauds committed by NDTV. This is published in the end of this report.

Question to the journalists and the speakers is – This article was published in Sunday Guardian in 2010. Why did no one oppose it? Now, after 7 years and much egging, CBI has finally acted. It was not the CBI’s fault. The basic culprits are the power brokers and friends of Prannoy Roy in the system who managed to rein in CBI for this long. Finally the CBI has acted. Better late than never.

Those who cry from media should learn to obey the law. Media needs to separate the individual Prannoy Roy from the entity he founded, i. e. NDTV. This FIR by the CBI is for the bank frauds he committed. Today he was seen talking like a Trade Union leader. He has no respect for law. He never appeared before the Income Tax Dept. which slapped Rs.525 crores notice for tax evasion and illegal money tripping. He never appeared before ED in Rs.2030 crore FEMA notice. He only sent staffers and tried to make them scapegoats. Those of you who have not yet read my book NDTV Frauds should do so. His shenanigans have been documented in great detail.

Mr. Roy, read my book. The joke is on you.

When caught for Bank fraud, he is now playing victim. He realizes that now he can’t send any of his minions to sit in an Air Conditioned room and manipulate powerful people. No one is above the law. The corrupt must fall. Many might have giggled when Prannoy Roy claimed he has not touched black money and dealt all in white money. Mr. Roy, read my book. The joke is on you.

Another article that was published in Sunday Guardian in 2010:
December 8 2010 article in Sunday Guardian

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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.

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  1. Mr Iyear your book is junk yard so no one going to buy it even after so hard efforts to sell it. Mr Iyear do you have the courage to write the book on Ambani’s and Adani who have spinned off several lakh crores via same route.


  3. Restructuring of loans by big corporate houses is a tool to loot the public money through legal means. Right from CDR mechanism to Flexible restructuring to S4a, the concept has been to help the big corporates and letting the banks to bleed. All corporates owe allegiance to one or the other political party who help them when they are in crises. Malaya was allowed to fly to London after cheating a consortium of banks for Rs. 12000 crores and is enjoying a lavish life there and government of the day is showing helplessness in bringing him home. NDTV also looted ICICI bank through the same restructuring package at a time when their masters were in power. Now that the fraud angle is being probed, they are crying foul and playing victim.
    Big think that they are above law and should not be touched and when caught they resort to pressure tactics by playing victims. 90% of bad loans out of the total stressed loans of about 12 lakh crores are due from corporates. The common people are harrased by banks by invoking SARFAESI act, DRT, civil and criminal action through judicial mechanism, properties and goods are confiscated, farmers commit suicides and the rich and powerful play victims.
    Government should take this case to its logical end to send a powerful message to the rich and powerful that law applies equally to all and nobody is above law, howsoever powerful and strong he or she may be.

  4. Sir Prannoy his wife and the entire team behind this fraud must be punished with maximum penalties under the law,along with all the traitors who have helped him.

    • SoGa mata is very clever. she ruined India from roots. Read Madhav Nalapat’s articles. During those 10 years she institutionalized corruption by distributing loot among
      1- Babus (decision makers or rule benders) 30%
      2- of course her family – 50%
      3- opposition (including lot of people BJP) – 20%
      Now Modi needs to fight not just opposition and bureaucracy, but those cheaters who sold BJP and India to that italian lady.
      Now you might understand why they want to fix individuals like Modi and RSS. They know very well that BJP with people like “jai italy”, swaraj etc is never a threat to them. Real threat is RSS and people like Modi or Yogi.

      • And of course , media and burkha dutt, rajdeep, pranay roy, award wapasi gang, crony capitalists acted like cheer leaders or brokers. the whole gang is needed for well oiled machine to run. As a CEO of a company, IF you don’t care about company’s future, you can pull all sorts of crooks, junkies very easily and make them top officials.
        That is exactly what SoGa mata did to India.
        Luckily we got RaGa now. hope he will become congress president soon.

  5. It seems that media can do any thing in the guise of free press.Till now no Govt dated to take on press because there are no financial irregularities to this extent. Let the media know it has also done responsibilities besides Freedom.Till now only NDTV and National herald are on criminal platform.

    • the powers of the MPs & Minister to be taken away beyond their ministries. Any Minister order or official instruction has to be in written & with Left & Right thump impression validated by AADHA
      AR database. So that in event of any change in mind due to expose, there is no escape door. Surprised India is still working on paper system it should have digitized which makes any deletion or overwriting difficult & impossible.

  6. What nonsense Mr Iyer.! Pls stop promoting your book through this medium…anyone interested will read it themselves .
    As for not going himself and sending his minions to the Income Tax authorities it is the authorities who hv asked for adjournments 21 times in the last 3 years not the other way around. In fact Mr Roy threw a challenge to the authorities to come forward and finish what they started …lets see how much longer they will drag their feet trying desperately to build up and pad their case with one false “proof” after another. Pls do not forget that the public at large does not really hold our premier investigation agency in too high a regard. This agency has blotted its copy book many a times by cringing miserably before its political masters…it has hardly ever displayed its autonomous status. Therefore we the public are sorry to say that their investigations are not really held in high esteem by all of us.
    Now for your collateral part of the argument ….let the Bank answer your accusation. At least thats how it apperas to the lay man….I want money , I go to a Bank , show them my collateral and ask for x amount. It is for the Bank to decide if they think I’m a good risk or a bad one, it is their decision and theirs alone. You and I have no part to play once the bank has been paid back.
    I know, you and your ilk, will go on bleating about the losses the Bank incurred due to renegotiating the loan .
    Here allow me to inform you, that since you obviously have never done any business in your life restructuring of loans is a very common thing, there is nothing criminal about it and is done every day.
    Banks are supposed to encourage businesses and help them flourish. Now whenever a business runs into financial trouble , for whatever reason other than siphoning out money by the owners, Banks are supposed to look into the causes of the financial decline, offer suggestions and help the business to stay afloat….sometimes they even offer a bailout package , if they feel the cause of decline are outside the business and so beyond the control of the owners. Therefore ICICI did no undue favour to the Roys by restructuring the interest rate and recovering their principal amount in full along with reduced interest. What are all of you, licking ass with the Government moaning about ?????
    That Sunjay Dutt is nursing a personal grievance is obvious to everyone, why are you, with no axe to grind(?) butting in ?
    Sorry Mr Iyer, your claims and arguments simply do not wash. They smell of partisanship and insufficient homework.
    That this is a vindictive, revengeful Govt is undoubted…pls do not attempt to whitewash them , we now know what they really are and it is near impossible to show them in an acceptable light. They had their chance, we gave them a full mandate…they blew it in their missionary zeal to change the “mindset” of all Indians to become petty and intolerant like themselves. We do not believe anything they say any more.
    They had an agenda to destroy NDTV , they made that obvious and when their highly objectionable Sambit Patra crossed all limits of proprietory behaviour and was ordered off the sets . Then the raids followed.
    This is an incontrovertible fact , it smacks of vendetta and that is enough for us to condemn your article as malafide in intent and execution.

    • very “great logic” Neena sharma (hope that is ur real name). I wish you become a Pakistan’s supreme court judge of pakistan. India & Indians are too simple minded to understand your “great logic”.

  7. Prannoy Peter Roy is not a holy cow! He need not bring all those in press (mis) trust of India to serve as alibis for his cause! These all bunch of hour is are a spent force and taken their pound of flesh from congress govt during their hey days!

  8. At last a government dares to initiate action against media. No one is aboveboard. The sympathisers are either beneficiaries or waiting for their turn. More than elites common man knows how much nuisance the media is for public. In the guise of freedom of speech/ expression these media houses are blackmailers.

  9. Is the connotation of press freedom changing? How can we term the panel- fight in an electronic medium seen today!

  10. Is the connotation of ‘press freedom ‘changing? How can we term the panel -fight in an electronic medium seen today!

  11. प्रणय रॉय अकेले मालिक है जिनकी जॉच सी बी आय कर रही है, और टी वी मालिक संत है क्या हिन्दुस्तान मे?

    • Wt a joke u just tell parnav Roy committed crime or not wt others r doing when their turn came they will be punished

  12. The supporters are rather accomplice of Roy Majority of them may have done similar misadventures . It is the violation of f law so punishment is due. Let the herd bark


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