1. CBI raids NDTV co-founder Prannoy Roy residence; NDTV shares slip

CBI raids NDTV co-founder Prannoy Roy residence; NDTV shares slip

Shares of New Delhi Television Limited (NDTV) dropped about 6.89 percent after reports that the Central Bureau of Investigation (CBI) has carried out searches at different properties owned by the company, and its promoters Prannoy and Radhika Roy.

By: | Published: June 5, 2017 2:22 PM
Shares of New Delhi Television Limited (NDTV) dropped about 6.89 percent after reports that the Central Bureau of Investigation (CBI) has carried out searches at different properties owned by the company, and its promoters Prannoy and Radhika Roy. The company confirmed the news in a filing with exchanges and said that it will “fight tirelessly” against what it called a “witch-hunt” by multiple agencies.

Shares of New Delhi Television Limited (NDTV) dropped about 6.89 percent after reports that the Central Bureau of Investigation (CBI) has carried out searches at different properties owned by the company, and its promoters Prannoy and Radhika Roy. The company confirmed the news in a filing with exchanges and said that it will “fight tirelessly” against what it called a “witch-hunt” by multiple agencies.

Earlier today, the CBI registered a case against senior journalist and NDTV co-founder Prannoy Roy for causing alleged loss to ICICI Bank to the tune of Rs 48 crore, as reported by ANI report. The names of Roy’s wife Radhika, a private company RRPR Holdings and others also feature in the case, the report says. The raids were being carried out at four places, including Delhi and Dehradun, as per the report. CBI sleuths have been conducting the raid at Roy’s residence in Delhi since this morning. Meanwhile, in Dehradun, caretakers at Roy’s house said that 6-7 people from CBI came in the morning and searched the house. It has been also been learned that NDTV would be shutting down its business channel NDTV Profit.

NDTV has come out in defence of Roy, saying it will not succumb to these attempts to blatantly undermine democracy and free speech in India. CBI stepped up concerted harassment of NDTV and its promoters based on same old endless false accusations, the channel said, as per a report by PTI. Terming the raids as a witch-hunt by multiple agencies, NDTV said it and its promoters will fight tirelessly against this. NDTV will fight for the country and overcome these forces, it says terming this as a message to those trying to destroy institutions of India and everything it stands for.

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Commenting on the raids carried out at the residence of Roy, former union minister and Congress leader Oscar Fernandes told media you know what is going on in the country. He also exhorted media to take a stand.

However, BJP MP Subramanian Swamy said that law should be equal for everyone, irrespective of their stature. “You cannot distinguish between media people, politicians, doctors, etc. If you have broken the law then you have broken the law. We have to develop respect for the law, and for that, we have to make it clear that nobody is above the law. Fear of the law is necessary and it will be applied no matter who you are,” Swamy said to ANI.

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