NDTV's Radhika & Prannoy Roy booked for alleged FDI norms violation

The CBI has booked NDTV promoters Prannoy Roy and his wife Radhika Roy, and others in connection with alleged violation of foreign direct investment rules, officials said on Wednesday.

The agency has also booked the media outlet’s former CEO Vikramaditya Chandra under charges of criminal conspiracy, cheating and corruption, they said.

It is alleged that the company floated 32 subsidiaries in several tax haven countries to bring foreign funds to India through sham transactions.

The development comes days after Prannoy and Radhika, were detained at the Mumbai airport and prevented from flying abroad on the basis of a “preventive” lookout circular (LOC) issued by the CBI. NDTV which later issued a statement in this regard say the duo was stopped from travelling on the basis of “a fake and wholly unsubstantiated corruption case initiated by the CBI” two years back.

Central Bureau of Investigation (CBI) officials in New Delhi said a “preventive” LOC was issued against the duo in June in connection with an alleged fraud in relation to ICICI Bank.

(With inputs from agencies)