CBI’s point-by-point clarification against NDTV’s charges over raids at Pranoy Roy’s residence

New Delhi: Sudden CBI raids at NDTV co-founder Pranoy Roy’s residence on Monday, has spurred a massive row and has ignited several media debates and reports.  The central Bureau of Investigation has now come forward with a complete statement responding to point by point rebuttal of NDTV.

1. As per the statement by CBI, it has clarified that CBI didn’t barge into the freedom of press and therefore, didn’t conduct the searches in the office of NDTV, newsroom or the studio.

 The statement read, “It is clarified that searches have been carried out at the premises of the          promoters and their offices based on search warrants issued by the Competent Court. CBI has not conducted any search of registered office of NDTV, media studio, news room or premises connected with media operations. CBI fully respects the freedom of press and is committed to the free functioning of news operations”.

2. The investigation agency also clarified that the searches weren’t conducted after acting under anyone’s pressure but, after an official complaint was filed by a shareholder of ICICI bank and NDTV.

The statement read, “Denigrating the allegations at this stage of investigation and wrongly accusing the agency of acting under pressure is uncalled for and an attempt to malign the image of the CBI. The investigation is being conducted as per the due process of law and under the jurisdiction of the Court of law”.

3. Clarifying the claims of the NDTV that they haven’t defaulted on any loans, CBI claims that the allegations aren’t regarding default on loan repayment, but on ‘wrongful gain’ of Rs 48 crore to Pranoy Roy and Radhika Roy and corresponding loss to ICICI bank.

The statement read “It is alleged in the complaint that the promoters of NDTV - Dr. Prannoy Roy, Smt Radhika Roy and M/s RRPR Holdings Pvt Ltd, acting in criminal conspiracy with unknown officials of ICICI bank, violated section 19(2) of the Banking Regulation Act, the Master Circular DBOD No. Dir B90/13.07.05/98-99 dated 28.08.1998 of the Reserve Bank of India and in furtherance of the conspiracy, ICICI bank took the entire shareholding of the promoters in NDTV(nearly 61 %) as collateral and then accepted prepayment of the loan by reducing the interest rate from 19 % p.a to nearly 9.5 % p.a and as a consequence thereof, causing a wrongful loss of Rs 48 crore to ICICI bank and a corresponding wrongful gain to the promoters of NDTV - Dr. Prannoy Roy, Smt Radhika Roy and M/s RRPR Holdings Pvt Ltd”

4. CBI also clarified on NDTV’s claims that the investigation was not as per the law, and clarified that ‘CBI has jurisdiction’ to take up investigation of the cases of ‘private banks’.

The CBI statement read, “It is clarified that the Honourable Supreme Court in the case of Ramesh Gelli vs CBI of 2016, held that the provisions of Prevention of Corruption Act, 1988 are applicable to the officials of private banks. Therefore, CBI has jurisdiction to take up investigation of the cases of private banks”.