Twitter Erupts Over Niti Aayog Making NDTV a Media Partner In Global Entrepreneurship Summit

A few months back. the government had acted against Mr and Mrs Prannoy Roy and NDTV Ltd for fraud and deceit, which has been the subject matter of litigation in courts. Before the high financial rise of NDTV began, one must remember that when the UPA assumed office in 2004, NDTV had a huge cash loss of Rs 248 crore.

It had no funds even to pay salaries, and its shares were trading at less than par. Its fortunes soared after the UPA came to power, and it received funds through a host of shell companies floated by it after 2004.

Between 2006 and 2010, NDTV India floated some 20 wholly-owned subsidiaries in different parts of the world – seven in Mauritius, eight in India, two in the Netherlands, one in London, one in UAE, and one in Sweden. All of them were letter-box companies, resting only on the valuation of NDTV Ltd. These subsidiary companies raised $417 million. Of this, $310 million was raised through a wholly-owned subsidiary, NDTV Network PLC UK, and $117 million through the sale of the channel NDTV Imagine to GE Corporation controlled by Universal Studios – all through private negotiation and private placement. Out of the $417 million, $267 million was invested by GE Corporation directly or indirectly. Just a reference to the emails obtained by the Income Tax authorities shows how the Roys and the other directors of NDTV were struggling to camouflage the huge monies received, not knowing how to camouflage the funds before the tax authorities. All this happened in 2008.

But now even a few people in the NDA Government seems to be helping NDTV By making it the media partner of World Entrepreneurship Summit being conducted by the NITI Aayog. And as soon as this news went viral on twitter, here’s how people reacted:

What do you think about this? Give views in comment box below:

Comments

comments