Top Story

e4m_logo.png

Home >> Media - TV >> Article

Subramanian Swamy accuses NDTV of money laundering

13-August-2016
Font Size   16
Share
Subramanian Swamy accuses NDTV of money laundering

Rajya Sabha MP Dr Subramanian Swamy and NDTV Group are engaged in a war of words. On August 10, Swamy wrote a letter to Prime Minister Narendra Modi accusing NDTV of money laundering. He pleaded Modi to direct the Central Bureau of Investigation (CBI) to file a case against NDTV under Prevention of Corruption Act in relation to the Aircel-Maxis case.

“CBI is not doing its statutory duty following the Enforcement Directorate’s findings of NDTV’s money laundering of 50 million US dollars in the Aircel Maxis scam chargesheet,” Swamy wrote.

He alleged that NDTV had received the money from Maxis subsidiary Astro – All Asia Networks in 2007. The maverick politician didn’t spare his favourite preys Reserve Bank of India Governor Raghuram Rajan and former Union Finance Minister P Chidambaram.

According to Swamy, the money received by NDTV from Maxis was “illegally approved” by Finance Minister P Chidambaram to “benefit his son” Karthi Chidambaram. He claimed that the Enforcement Directorate had detected illegality and imposed a fine of Rs 2,030 crore on NDTV for Foreign Exchange Money Act (FEMA) violations.

But RBI Governor Rajan was trying to bail NDTV out of the mess. “The case is in the arbitration stage and RBI under Governor Raghuram Rajan had tried to save NDTV through paying meagre fine,” he mentioned. 

As per Swamy, NDTV floated a company in London by the name of NDTV Networks Plc (NNPLC) for siphoning off the illicit money. Prannoy Roy, Radhika Roy, Barkha Dutt, Vikram Chandra, Sonia Singh and Suparna Singh were named as directors of NNPLC.

Turning his ire towards pro-Chidambaram officials in the Finance Ministry, Swamy accused certain bureaucrats of working to protect NDTV. “This however is a clear criminal case of money laundering and case should be registered under PMLA (Prevention of Money Laundering Act) and ED (Enforcement Directorate) should be permitted to call all the high profile operators of NDTV who have been taking the cover being (sic) journalists with political patronage, to suppress the criminal investigation,” he said.  

The network was quick to respond to the allegations. In a press release titled “The lies of Subramanian Swamy”, NDTV stated, “Now that Raghuram Rajan is departing and Arvind Subramanian has been declared off-limits, Dr Swamy, after being rebuked by the Prime Minister, has been deprived of his oxygen of publicity.”

 

 

Roy’s company asserted that “just about every paragraph in Dr Swamy’s letter” was false. It wondered how a nominated Member of Parliament could show such disregard for truth.

Terming the accusation of money laundering as “ridiculous”, NDTV placed on record that Astro had invested $40 million in NDTV’s lifestyle business after due approvals from the Ministry of Information & Broadcasting and Foreign Investment Promotion Board.

Maintaining that NDTV Networks Plc was a genuine company, the release said that Astro’s investment in NDTV Lifestyle was investigated by the Tax Department which had passed a “clean order” thereby upholding the legitimacy of the investment. It argued that “most of the people” named in Swamy’s letter were not directors of NNPLC.

 

 

The company also mentioned that ED had never imposed a fine of Rs 2,030 crore on NDTV. Labelling the accusations as “completely false”, the network stated that even the 2G court had found it to be innocent and penalized the “dishonest litigant” in the case.  

Bhasin on the checks and balances of new IRS, methodology with new companies like Vedsur on board, interpreting the data and why it’s not fair to compare with previous data

Chitresh Sinha, CEO, Chlorophyll Innovation Lab and Vivek Singh, Joint MD, Procam International speak exclusively with exchange4media on the upcoming #BeBetter Campaign for the TATA Mumbai Marathon

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

With 17 partners and sponsors across categories, the scale of Tata Mumbai Marathon comes across as commendable as it has managed to clock 44,407 registrations and set prize money of US$405,000

In top five programmes of BARC week 2, Zee TV’s prime time shows Kundali Bhagya and Kumkum Bhagya grabbed the first two position with 12533 Impressions (000s) and 11275 Impressions (000s). The re-run...

According to Flurry’s “State of Mobile 2017” annual wrap-up report, Lifestyle and Gaming Apps categories are on a decline