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NDTV Denies IT Tribunal's Money Laundering Charges, Says Political Instructions Issued To Crush Them

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NDTV Denies IT Tribunal's Money Laundering Charges, Says Political Instructions Issued To Crush Them
NDTV Denies IT Tribunal's Money Laundering Charges, Says Political Instructions Issued To Crush Them
outlookindia.com
2017-07-22T20:04:25+05:30

Responding to the money laundering charges levelled by Income tax tribunal, NDTV has issued a statement saying that "political instructions have been issued to try and crush NDTV by any means possible". 

The statement says that the allegation of a bona fide investment in NDTV by the American media giant NBC and GE (General Electric, one of the most reputable corporations in the world) was a "sham transaction", is not even remotely true.

The charges will lead to the one of America's biggest corporate scandals and send the CEOs of both these organisations to jail in America, it adds.

The statement reads,"In the interest of transparency, NDTV has repeatedly put in the public domain all the facts around the NBCU investment of $150 million in 2008. These facts are backed by thousands of pages of documentation, and by three years' worth of emails between NDTV and NBC/GE. We invite any financial journalist or member of the public to see these details for themselves and uncover that the Income Tax charges are as baseless as the CBI "loan restructuring" claims."

The charges levelled in the order dated July 14 are against the US media giant NBC and GE but still NDTV is being harassed while not even a letter of enquiry has been sent to GE/NBC, the statement says.

The Income Tax Appellate Tribunal (ITAT) held  NDTV  founder Prannoy Roy responsible for laundering Rs 642 crore and stated that the Ministery of Corporate Affairs helped the owners of the news channel in hiding financial information of the foreign shell companies in 2009.

The companies were floated and used for money laundering. The order states that NDTV and its promoters laundered Rs. 1,100 crore of black money during 2007-08 to 2009-10 out of which  black money worth Rs 642.54 crore has been confirmed by the ITAT, reported DNA.


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