Bad times are coming ahead of New Delhi Television (NDTV) as owners of NDTV Prannoy Roy & Radhika Roy can face punishment of up to 7 years in jail. For evading the tax, the Income tax department has finally launched criminal proceedings against them and their promoters. NDTV has done tax evasion of around Rs.800 crores ($119 million) while personally Roy and his wife has evaded Rs.30 crores ($4.5 million) each.
According to the notice served by the Income Tax Department, Prannoy Roy, Radhika Roy and all other accused are booked under Section 276C, 277, 278 and 278B of Income Tax Act for violating the norms. These stringent provisions for criminal prosecution are imposed on the tax evaders that could lead to rigorous imprisonment of up to seven years with fine. The charges are also for false statements, abetment of a false return, and suppression of taxable income.
Prannoy Roy was running here and there for help in order to escape himself from the criminal prosecution. He has tried his best to save himself. From influencing his known officials in the finance ministry for transfer of all the officers handling his case to threatening the Prime Minister Narendra Modi by writing a letter that “If NDTV will suffer than nation will suffer” he has done all. But to his bad luck nothing could be done.
Infact he was tightly slapped back by the Prime Minister when Prime Minister Narendra Modi ordered top officials in the finance Ministry to restore all those key officers back to their old positions who were handling NDTV’s tax evasion case. This action has been taken by the Prime Minister when he was complained about such transfers being taking place in the Ministry by the BJP leader Subramanian Swamy.
Time has come for Prannoy Roy to face the consequences of corruption being done by him and his channel. Not only he has to pay liability of Rs.800 crores but he and his wife have to face criminal prosecution. The IT department has already attached 30 percent of NDTV’s 30 shares, whose current value is below Rs.80 crores. These shares of NDTV were owned by the shell firm RRPR Holdings. RRPR means Radhika Roy Prannoy Roy – A classic fraud of floating a shell firm exposing the Indian corporate culture.
The condition of NDTV has become such pitiable that recently NDTV sold some shares of one of its subsidiaries to the building owner due to non-payment of rent of its headquarters. But wait it’s not a stop at all. Yet there is a lot to come. They had to bear the fruits of all their wrongdoings. NDTV owners Prannoy Roy, Radhika Roy and its promoters must know that this is Modi era in which no corrupt can escape. Every corrupt person and party has to pay back to nation whatsoever they have looted from the nation.