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CBI raids NDTV chief Prannoy Roy; all thanks to Subramanian Swamy

CBI raids NDTV chief Prannoy Roy; all thanks to Subramanian Swamy

News is coming in that CBI has raided the residence of Prannoy Roy, the co-founder and executive co-chairperson of New Delhi Television (NDTV) channel, in Greater Kailash, Delhi.  The raids are believed to be in connection with the funds diversion case unearthed by the IT department last year. Prannoy Roy was found to have siphoned off Rs 53.84 crores to his personal accounts from NDTV. An amount of Rs.53,84,60,960 transferred shifted from RRPR Holdings through cheque to Prannoy Roy’s account. The shell company RRPR holdings, in which Radhika Roy and Prannoy Roy had 50% shares had received this money from Reliance Group linked company called VCPL for increasing the shareholding in NDTV from 26% to 29.19%. On the same day Stock exchange transactions worth Rs.134 crores were done at a price variation of 98%. The IT department discovered that these bogus gains were done to benefit the promoters Prannoy Roy and his wife.

So much for the ethics and morals, Prannoy Roy and NDTV keep harping about whereas their core foundation is based on fraud and illicit money making methods.

Posted On : 05-Jun-2017

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