Radhika Roy

Radhika Roy (born 7 May 1949), née Radhika Das, is an Indian journalist, and the co-founder of New Delhi Television (NDTV).[1][2] Following a ten year career in print journalism,[3] she switched to television in 1987 and co-founded NDTV, which she has led for more than 25 years.[2][4] The Securities and Exchange Board of India issued an order to bar Radhika Roy and her husband Prannoy Roy from holding management positions on NDTV, for 2 years. SEBI alleged & laid claims that an investigation conducted by SEBI, has shown that information regarding loan agreements was withheld by Radhika Roy & Prannoy Roy.

Radhika Roy
Born
Radhika Das

(1949-05-07) 7 May 1949
Calcutta, India
OccupationCo-Founder, Co-Chairperson NDTV
Spouse(s)Prannoy Roy
ChildrenTara Roy
RelativesBrinda Karat (sister)

On 14 June 2019 , Prannoy Roy & Radhika Roy made a joint statement that the SEBI order was bad in law, outrageous & that they would approach the court to challenge the order.[5][6][7]

Career

Roy worked for over ten years in print journalism, including with publications such as The Indian Express and India Today.[3]

In 1988, she launched New Delhi Television (NDTV) with her husband, Prannoy Roy.[8] He credits her with being "the guiding vision and force behind NDTV", and others say that she is deeply involved in all aspects of the day-to-day running of the organization.[2] She was Managing Director of NDTV from 1988 to 2011, and became Executive Co-Chairperson of NDTV on 29 July 2011. She also serves as Executive Director of NDTV.[1] During a television career of more than 25 years, she has rarely been interviewed or photographed, being intensely private.[2]

Personal life

Roy is married to Prannoy Roy, who she met while attending Welham Girls' School.[9] They have a daughter, Tara Roy.[10]

Corruption allegations

The CBI had filed a criminal conspiracy case against NDTV managing director Roy in 1998 for alleging fraud in Doordarshan upgrade.[11] In July 2013, Roy and NDTV were cleared by the courts and found not-guilty of all charges involving cases filed against Roy by the CBI under Section 120-B of the Indian Penal Code (IPC) for criminal conspiracy and under the Prevention of Corruption Act.[12][13]

NDTV, through its foreign subsidiaries, is alleged to have violated Indian tax and corporate laws.[14] NDTV has denied these allegations.[15]

The Sunday Guardian ran a story which exposed the NDTV's financial misdemeanours and malpractices in connivance with ICICI Bank.[16] provides details of how NDTV's major stakeholders raised funds by misdeclaration of the value of shares in NDTV. NDTV has denied the allegations and the NDTV CEO replied[17] to the Sunday Guardian along with the threat of "criminal defamation". On 5 June 2017, the House of Prannoy and Radhika Roy was raided by NIA and CBI.

On 19 November 2015 the ED served ₹2,030 crore (US$280 million) notice to NDTV for alleged violations under the FEMA act,[18] however the company said it has been advised that the allegations are not "legally tenable".[19]

The "Income Tax Appellate Tribunal" (ITAT) has upheld an income tax department finding that promoters of NDTV used their own shell companies to round-trip investments of ₹642 crore (US$90 million) during 2009-10, making them liable for recovery of tax and penalty.[20]

References
  1. "Radhika Roy". Bloomberg. Retrieved 18 January 2017.
  2. Bansal, Shuchi (21 April 2003). "Radhika Roy: NDTV's heart and soul". Rediff India Abroad. Retrieved 18 January 2017.
  3. Kaushik, Krishn (1 December 2015). "Have Radhika and Prannoy Roy undermined NDTV?". The Caravan. Retrieved 18 January 2017.
  4. "Radhika Roy". NDTV. Retrieved 27 January 2017. Radhika Roy is the guiding force behind NDTV and has been responsible for leading NDTV's tremendous growth since inception.
  5. "Statement From Radhika And Prannoy Roy On SEBI Order". 14 June 2019.
  6. "Sebi bars NDTV promoters Prannoy, Radhika Roy from accessing securities markets for 2 years". The Economic Times. 14 June 2019. Retrieved 14 June 2019.
  7. "SEBI bars Prannoy, Radhika Roy from NDTV board". The Hindu. 14 June 2019. Retrieved 14 June 2019.
  8. Shinde, Shalaka (15 October 2016). "Prannoy Roy, Dad of News TV: Here's A Tribute From Your 'Students'". The Quint. Retrieved 18 January 2017.
  9. Karmali, Naazneen (14 September 2006). "Prannoy Roy plans to take NDTV global". Rediff. Rediff.com. Archived from the original on 21 March 2014. Retrieved 21 March 2014.
  10. Chandran, Bipin (31 May 2005). "Prannoy Roy to gift NDTV stake to daughter". Rediff. Rediff.com. Archived from the original on 8 August 2011. Retrieved 21 March 2014.
  11. "Archived copy". Archived from the original on 10 September 2015. Retrieved 16 September 2015.CS1 maint: archived copy as title (link)
  12. NDTV and Prannoy Roy – Once Upon a Time Zoom Indian Media (14 February 2011).
  13. CBI case against Prannoy Roy. The Indian Express. (20 January 1998).
  14. "NDTV juggles funds, shares abroad, avoids tax". The Sunday Guardian. 5 December 2010. Retrieved 6 December 2010.
  15. "Todays India News". Video.indiannewsandviews.com. Retrieved 10 January 2018.
  16. "NDTV-ICICI loan chicanery saved Roys Archived 2 February 2011 at the Wayback Machine
  17. "Archived copy". Archived from the original on 8 December 2010. Retrieved 5 February 2011.CS1 maint: archived copy as title (link)
  18. "ED serves Rs 2,030 crore notice on NDTV for FEMA violations". The Hindu. 20 November 2015.
  19. "NDTV gets ED notice for alleged FEMA violations". The Indian Express. 20 November 2015.
  20. "NDTV round-tripped Rs 642 crore via shell companies in 2009-2010: Tribunal". The Times of India. 23 July 2017.
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