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CBI raids NDTV owners Prannoy and Radhika Roy’s homes, charges them with causing Rs 48 crore loss to ICICI Bank

  • The Central Bureau of Investigation raided the residence and other premises of NDTV executive co-chairperson Prannoy Roy and his wife and founder and executive co-chairperson, Radhika
  • They are accused of causing a loss to the tune of Rs 48 crore to ICICI bank
  • Delhi-based Quantum Securities director Sanjay Dutt filed an FIR alleging that ICICI Bank suffered a loss of over Rs 48 crore, arising out of unlawful favour and profit transferred to RRPR Holdings
CBI raids NDTV owners Prannoy and Radhika Roys homes charges them with causing a Rs 48 crore loss to ICICI Bank

The Central Bureau of Investigation raided the residence and other premises of NDTV executive co-chairperson Prannoy Roy and his wife and founder and executive co-chairperson, Radhika. They are accused of causing a loss to the tune of Rs 48 crore to ICICI bank.

Some executives within ICICI Bank have also been charged with conspiring with NDTV promoters for facilitating the transfer of ownership of a news broadcasting agency to a shell company belonging to NDTV.

However, this act has been termed as a political vendetta of the ruling class against NDTV for not conforming to their norms. Information and Broadcasting Minister Venkaiah Naidu told the Times of India, “If somebody does something wrong simply because they belong to media, you cannot expect the government to keep quiet. The CBI might have received some information. That is why they have taken action.”

A FIR was lodged on June 2 based on a complaint on April 28 by Delhi-based Quantum Securities director Sanjay Dutt against the owners of NDTV, RRPR Holdings and executives in ICICI Bank of conspiracy and cheating under the Prevention of Corruption Act and Indian Penal Code. Dutt alleged that ICICI Bank suffered a loss of over Rs 48 crore, arising out of unlawful favour and profit transferred to RRPR Holdings. 

Dutt has also accused ICICI Bank and NDTV of not disclosing the raising of capital worth Rs 375 crore by pledging shares. He has also accused the siphoning of money by RRPR Holdings into the personal accounts of Prannoy and Radhika Roy.


 

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