After 7 years probe, CBI files closure report in NDTV promoters cheating case
New Delhi (PTI): The CBI on Tuesday filed a closure report in a case of alleged cheating against former NDTV promoters and directors Prannoy Roy and Radhika Roy as it could not find legally tenable evidence in the Rs 48 crore loss incurred by ICICI Bank in the settlement of a loan in 2009, officials said.
The case was initiated in 2017 when the CBI registered an FIR based on a complaint from an individual, Sanjay Dutt, of Quantum Securities Ltd who alleged that RRPR Holdings Pvt Ltd, associated with the Roys, had taken a Rs 500 crore loan from India Bulls Pvt Limited to acquire a 20 per cent stake in NDTV through a public open offer.
According to the FIR, RRPR Holdings also took out a Rs 375 crore loan (with Rs 350 crore disbursed) from ICICI Bank at an interest rate of 19 per cent per annum to repay the loan from India Bulls.
The complaint alleged that the Roys pledged their entire shareholding as collateral for this loan, failing to report the pledging to the Securities and Exchange Board of India (SEBI), stock exchanges, or the Ministry of Information and Broadcasting.
In 2022, the Adani Group acquired a controlling stake in NDTV, purchasing shares from the Roys at a premium of nearly 17 per cent over the price paid to minority shareholders.
After more than seven years of investigation, the CBI has now filed a closure report with a special court, which will determine whether to accept the report or instruct the agency to continue its probe.
NDTV, following searches conducted on June 5, 2017, stated that the Rs 375 crore loan from ICICI Bank, which it was accused of defaulting on, had been repaid over seven years ago.
The company also asserted that the allegation of failing to disclose the pledging of shares to SEBI was "incorrect and false".
"NDTV and its promoters have never defaulted on any loan to ICICI or any other bank. We adhere to the highest levels of integrity and independence," the company had emphasised.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Chandrashekhar Swamiji apologises for remark on denying voting rights to Muslims
"If my statement has upset our Muslim brothers, I deeply regret it."
Bengaluru: Kumara Chandrashekharanath Swamiji, head of the Vishva Okkaliga Mahasansthana Mutt, has expressed regret over his controversial statement suggesting that "Muslims should be denied voting rights."
In a press release, Swamiji clarified, "Muslims are also citizens of this country. Like everyone else, they too have voting rights. If my statement yesterday has caused discomfort to our Muslim brothers, I sincerely apologise for it."
He further added, "Okkaligas are inherently tolerant of all religions. We have always treated people of every faith equally. Our Mutt maintains cordial relations with Muslims, and they frequently visit us. Similarly, we attend their weddings and other joyous occasions. Hence, there is no intolerance towards this community." Swamiji appealed to the public to disregard the controversy surrounding his remark.
The controversial statement was made during a farmers' rally, ‘Raita Gharjana,’ organised by the Bharatiya Kisan Sangh, Karnataka Pradesh, at Freedom Park, Bengaluru, on Tuesday. Addressing the gathering, Swamiji had said, "A law should be enacted to deny voting rights to the Muslim community, and the Wakf Board should be abolished."
The remark drew widespread criticism from political leaders and the public alike. Following the backlash, Swamiji issued his apology, stating, "Muslims are also citizens of this country. Like everyone else, they too have voting rights. If my statement yesterday has caused discomfort to our Muslim brothers, I sincerely apologise for it."
