Time has started ticking for crooked Prannoy Roy after SEBI Order forces him to leave NDTV


Friday’s 51-page lethal order by the Securities and Exchange Board of India (SEBI) is a real nightmare to NDTV’s owner Prannoy Roy and his wife Radhika, the partner in all his crimes and money laundering. As per the SEBI’s much awaited Order based on the complainant of stock exchange manipulation filed by minority shareholder Sanjay Dutt prevents Prannoy Roy, wife Radhika Roy and their shell company RRPR Ltd. from Stock Exchange activities for a period of two years. The SEBI also ordered the crooked husband and wife to step down from NDTV for two years. Further, It banned both from becoming Directors of all companies for a period of one year.

ICICI Bank fraud and others

With this order the clock has started ticking for the Roys. The Order clearly lists all the frauds they did in the ICICI Bank loan fraud[1]. The Central Bureau of Investigation (CBI) has already filed a First Information Report (FIR) in this regard and raided their home for diverting around Rs. 45 crores from ICICI Bank loan fraud in 2008. This SEBI Order is a vindication for CBI which is yet to file charge sheet. CBI sleuths have already found that Roy diverted this money to buy a home in Cape Town in South Africa.

The SEBI Order explains how Prannoy Roy and wife and their shell firm RRPR Holdings Limited illegally traded public limited companies shares at a bargain basement price at just Rs.FOUR when on that day it was being traded in the Stock Exchanges for Rs.140 in 2009! This finding of SEBI strengthens Enforcement Directorate (ED) to attach the properties of the crooked Roys.

In the interest of public, we are publishing the 51-page Order of SEBI exposing the frauds of Prannoy Roy. The journalists who assembled in Press Club in June 2017 to protest against CBI raid must read this to understand the money laundering and floating of black money in media world[2].

The SEBI order exposes the dubious loan of Rs.375 cr from ICICI Bank and a back door investment of more than Rs.400 cr. from the Mukesh Ambani linked firm in 2009. This SEBI Order will weaken NDTV’s appeal against Income Tax in the Supreme Court. What justification will Prannoy Roy give for trading his shares at just Rs.FOUR when the common public was paying Rs.140 for a share?

So now the question is what is the fate of NDTV? Is there any prospective buyer for the scam-hit TV Channel?

Can’t run the channel with Benamis!

The SEBI Order also bans Prannoy Roy and wife to run the NDTV thru benamis and associates. This provision literally bans his known associates Nidhi Razdan, Sonia Singh, Suparna Singh and Sreenivasan Jain from entering into the board Room of NDTV. So NDTV has to be acquired or shut down or auction to other share holders. Industry experts say that Mukesh Ambani may step in or with his consent, someone else will step in to take over the scams-hit TV Channel.

Meanwhile, many investigators feel that the SEBI Order will speed-up Prannoy Roy and wife’s journey to Tihar jail in CBI and ED cases. This is a Prevention of Money Laundering Act (PMLA) offence and carries a jail term of up to 3 to 7 years. ED already has an ECIR registered and should now proceed with attaching their properties and Show Cause Notice.

The 51-page SEBI Order is published below:

SEBI Order Banning Prannoy Roy Dtd June 14, 2019 by PGurus on Scribd

References:

[1] Will those bleeding hearts explain Sunday Guardian expose on NDTV’s ICICI Bank frauds? Jun 9, 2017, PGurus.com

[2] Why the eminent speakers at the press club may be wrongJun 11, 2017, PGurus.com

The post Time has started ticking for crooked Prannoy Roy after SEBI Order forces him to leave NDTV appeared first on PGurus.



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