Notice to NDTV for alleged FEMA violations of over Rs 4,000 cr

Agencies
October 18, 2018

New Delhi, Oct 18: The Enforcement Directorate (ED) has issued a show cause notice to private television news channel NDTV for alleged violations of the forex law amounting to over Rs 4,000 crore, the central probe agency said Thursday.

"The investigation showed FEMA contraventions relating to receipt of foreign direct investment by NDTV to the extent of Rs 1,637 crore and the other relating to overseas investments to the tune of Rs 2,732 crore," the ED said in a statement.

The show cause notice, issued under the Foreign Exchange Management Act (FEMA), was issued to the founders and executive co-chairpersons of the group-- Prannoy Roy and Radhika Roy--, journalist Vikram Chandra and few others.

The companies alleged to have contravened the FEMA are Ms NDTV Lifestyle Holdings Ltd (now Ms Lifestyle and Media Holdings Ltd), Ms South Asia Creative Assets Ltd, Ms Astro Overseas Ltd and Ms NDTV Imagine Ltd (now Ms Turner General Entertainment Networks India Pvt Ltd).

The ED said the offences identified in respect of the first alleged contravention in the receipt of FDI pertains to "substantive contraventions of Rs 319 crore by NDTV Ltd through contravention of press note 1 of 2005 and downstream investment of Rs 138 crore without FIPB approval.

"The remaining contraventions relate to delays under FEMA in respect of allotment of shares within the permissible time limit of 180 days and delays in filing nomination with RBI and reporting requirements," the agency said.

As part of the second violation that has been show caused, the ED said "overseas investment made by the NDTV and offences of Rs 582 crore relate to the contravention of substantive provisions of FEMA and the remaining contraventions of Rs 2,414 crore relate to delays in filing reports and other requisite information before RBI."

The total contravention identified under the latest notice is Rs 4,369 crore.

The agency said it is further probing an instance of FDI received by the media group worth Rs 725 crore, which only the cabinet committee on economic affairs (CCEA) was competent to clear (cases of FDI in excess of Rs 600 crore).

"But, no CCEA approval was taken (by NDTV)," the ED alleged.

"FDI was projected as below Rs 600 crore as part of a larger conspiracy. While applying for FIPB approval NDTV projected FDI as varying between USD 130-160 million. Documents of FIPB section also projected FDI differently as Rs 585 crore (USD 130 million at the rate of Rs 45 per dollar).

"Further, investigation on this aspect is continuing," the agency said.

It added that there are additional "offences" under probe to the tune of Rs 13,78,68,77,738 by the group in respect of delays in reporting and filing information with RBI such as FIRC, FCGPR, FCTRS among others and delays in allotment of shares.

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News Network
April 22,2020

Mumbai, Apr 22: Maharashtra Home Minister Anil Deshmukh on Wednesday said none of the 101 people arrested in connection with the Palghar lynching case is a Muslim, and accused the opposition of giving a communal colour to the incident.

Terming the incident as unfortunate and a blot on humanity, Deshmukh in a Facebook address said this is not the time to play politics, and urged all to engage in collective efforts to defeat the deadly coronavirus.

Without naming any leader or party, Deshmukh, who is an NCP leader, said some people were seeing Mungerilal ke haseen sapne (referring to a fictional character from a TV show who daydreams) of returning to power in the state.

He said in the run up to the incident, a rumour did rounds in Palghar that some people were lifting children during night.

The entire episode is being investigated by a special inspector general and the probe has been handed over to the Crime Investigation Department (CID), he said.

"The police arrested 101 people in connection with the incident within eight hours after it took place. They had run into neighbouring jungles, but were caught by police. There is no Muslim brother among these 101 people, Deshmukh said.

The minister said someone was heard as saying oye bas (please stop) in the video clip of the incident, but it was allegedly distorted as Shoaib.

An attempt was made to give a political colour to the incident. And this is very unfortunate...communal politics is being played, Deshmukh alleged.

He said such politics is being played at a time when the entire state is engaged in a battle against coronavirus.

"It is not the time to play politics, but to fight coronavirus collectively. It is unfortunate some people are seeing 'Mungerilal ke haseen sapne' at this juncture, the minister said.

The incident took place on the night of April 16 when three men - two seers and their driver - were going from Mumbai in a car towards Surat in Gujarat to attend a funeral.

Their vehicle was stopped near a village in Palghar district where the three were dragged out of the car and beaten to death with sticks by a mob on suspicion that they were child-lifters.

The deceased were identified as Chikne Maharaj Kalpavrukshagiri (70), Sushilgiri Maharaj (35), and driver Nilesh Telgade (30).

The Maharashtra government earlier ordered a high- level probe into the incident, and two policemen from Palghar were suspended on Monday for alleged dereliction of duty.

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News Network
January 15,2020

Jammu, Jan 15: Fresh landslides kept the Jammu-Srinagar National Highway shut for the third consecutive day on Wednesday, leaving over 5000 vehicles stranded.

"There were four fresh landslides in Digdol and Panthiyal belts on the highway in Ramban district. The traffic on the highway remained closed for the third day today", a police officer told PTI.

On Monday, heavy rains triggered shooting of stones in Moumpassi, Digdole and Panthiyal areas, forcing a suspension of the traffic, the official said.

Snowfall in Kashmir side of the highway, including Jawahar Tunnel, since Sunday has resulted in blockade of the highway.

"No fresh traffic was allowed from Nagrota in Jammu for Kashmir", he said.

As a result of the blockade of the highway, over 5000 vehicles remained stranded at various places en route from Lakhanpur in Kathua district to Banihal belt of Ramban district and also on the Kashmir side.

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News Network
June 11,2020

New Delhi, Jun 11: Rajasthan chief minister Ashok Gehlot has obliquely hinted that the opposition Bharatiya Janata Party (BJP) is pulling out all stops to destabilise the Congress-led government by luring some of the ruling party’s members of the legislative assembly (MLAs) with Rs 25 crore each.

He alleged that the BJP’s plan is similar to that of toppling the erstwhile Kamal Nath-led government in Madhya Pradesh (MP) and some of his party lawmakers have been offered Rs 10 crore each in advance of the promised sum of Rs 25 crore.

The CM made these allegations while speaking to media persons late on Wednesday night, when the Congress took its 107 party MLAs and 13 independent lawmakers to a resort located on the outskirts of Jaipur for a meeting ahead of the upcoming Rajya Sabha polls for three seats from the desert state slated to be held on June 19.

The 120 MLAs will be shifted to the resort on Thursday.

“Our MLAs are intelligent, alert, and united. Rajasthan is the only state in the country, where 13 independent MLAs supported our government for neither exchange of any money nor post. However, the condition on which our MLAs left the party for the BJP in MP is not good,” Gehlot said.

Rajasthan government’s chief whip Mahesh Joshi in a complaint to the director-general, anti-corruption bureau (ACB), has alleged attempts to poach Congress MLAs and the independent lawmakers, who are supporting the Gehlot-led government.

“Attempts are being made to destabilise the government in Rajasthan on the lines of Karnataka and MP,” Joshi alleged.

Gehlot said that he would hold another round of meeting with the 107 Congress and 13 independent MLAs on Thursday.

The CM also targeted Prime Minister Narendra Modi, alleging that the Upper House elections were postponed under pressure because the BJP could not poach an adequate number of MLAs in Rajasthan and Gujarat.

He blamed the saffron party for its lack of faith in democracy, as it has ensured the resignation of eight Congress MLAs in Gujarat since March, including three earlier this week.

Mukesh Pareek, BJP’s state spokesperson, refuted the allegations levelled by CM Gehlot against his party and asked the ruling Congress to give evidence of alleged poaching of its and independent lawmakers.

‘The Congress has failed to manage its own house. There is growing resentment in the party’s rank and file over its failed national leadership,” Pareek alleged.

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