HOW MEDIA MAKES FORTUNES

Interesting NDTV has a huge list of financial controversies listed on its wikipedia page . Here is the latest by the IT department on a 150 million $ concealment of investment. The page also states they are left leaning. Prannoy Roy is right now in his mansion in South Africa claiming he is in ill health and cant answer the IT department notices . In a show of solidarity , most media houses have not carried this story. On May 16, 2016, India’s Income Tax Department (ITD) has slapped a fine of Rs.525 crores on New Delhi Television Limited (NDTV) for fooling, concealing more than Rs.642 crore income earned through sham transactions in 2008. When caught for the unexplained money of how more than Rs.642 crores reached its kitty via Bermuda, NDTV claimed that they “sold a dream”. This curious answer was given to the ITD by NDTV by claiming that this unexplained money was through some inflated share transfer and dividend from a tax haven based firm. Income Tax Dept. observes that a deliberate attempt was made by NDTV to conceal a $150 million investment. The 14 page Income Tax notice was served to NDTV was on June 15, 2016 The others are Allegation of corruption and criminal conspiracy On 20 January 1998 Central Bureau of Investigation filed cases against New Delhi Television (NDTV) managing director Prannoy Roy, former director general of Doordarshan R. Basu and five other top officials of Doordarshan under Section 120-B of the Indian Penal Code (IPC) for criminal conspiracy and under the Prevention of Corruption Act. According to the CBI charge-sheet, Doordarshan suffered a loss of over Rs 35.2 million due to the "undue favours" shown to NDTV as its programme The World This Week (TWTW) was put in 'A' category instead of 'special A' category.[16][17][18][19][20][ 21] Radia tapes controversy Main article: Radia tapes controversy In November 2010, OPEN magazine carried a story which reported transcripts of some of the telephone conversations of Nira Radia with senior journalists, politicians, and corporate houses, many of whom have denied the allegations. The Central Bureau of Investigation has announced that they have 5,851 recordings of phone conversations by Radia, some of which outline Radia's attempts to broker deals in relation to the 2G spectrum sale.[22] The tapes appear to demonstrate how Radia attempted to use some media persons including NDTV's Barkha Dutt to influence the decision to appoint A. Raja as telecom minister.[23] She always denied her role in this episode with stating her role as simply error of judgment. Barkha Dutt is being investigated by the CBI. Allegation of tax fraud NDTV, through its foreign subsidiaries, is alleged to have violated Indian tax and corporate laws.[24] NDTV has denied these allegations. The Sunday Guardian ran a story which exposed the NDTV's financial misdemeanours and malpractices in connivance with ICICI Bank. "NDTV-ICICI loan chicanery saved Roys"provides details of how NDTV's major stake holders raised funds by misdeclaration of the value of shares in NDTV. NDTV has denied the allegations and the NDTV CEO replied to the Sunday Guardian along with the threat of "criminal defamation". On 19 November 2015 the ED served ₹2,030 crore (US$300 million) notice to NDTV for alleged violations under the FEMA act,[25] however the company said it has been advised that the allegations are not "legally tenable".[26] Commonwealth Games Contract On 5 August 2011 Comptroller and Auditor General of India's report on XIX Commonwealth Games was tabled in Parliament of India. In section 14.4.2 of the report, CAG alleged that while awarding contracts worth Rs 37.8 million for production & broadcasting of commercials for promoting CWG-2010 to NDTV & CNN-IBN, the Commonwealth Games Organizing Committee followed an arbitrary approach. Proposals were considered in an ad hoc manner, as and when a proposal was received; no form of competitive tendering was adopted. The CAG further said in its report that, "We had no assurance about the competitiveness of the rates quoted by these channels and the need and usefulness of these proposals. From March 2010 to June 2010, the entire pre games publicity and sponsorship publicity was done only on NDTV & CNN-IBN."[27][28][29] Suit against TAM India News broadcaster company sued television audience measurement company, TAM India and its global parent firms for over a billion dollars in the Supreme Court of New York, alleging TAM of manipulating ratings in return for bribes to its officials.[30]