Rs.5500 Crore Money Laundering Accused NDTV and P Chidambaram
NDTV & Chidambram Accused of Money Laundering Scam of Rs. 5500 cr
IT Commissioner SK Srivastava's Battle against Thwarted Probe into Hawala & Tax Evasion Scam by NDTV - Madhu Purnima Kishwar
Madhu Kishwar wrote following about this video
This is not a sting operation, nor am I exposing anything “secret”. S.K. Srivastava’s battle has been going on in the courts for several years now. The documents that I received are part of court records and hence in the public domain.
Who is S.K. Srivastava?
S.K. Srivastava an honest Income Tax officer who came across NDTV case, followed the case honestly
About Srivastava Madhu wrote following
Srivastava, in his submission in the 2G scam case, had alleged that NDTV has laundered a huge chunk of this money for compromised politicians. Chidambaram as Home Minister got two FIRs registered against Srivastava for reporting about the corruption of those two female IRS officers of 1999 Batch. The ostensible charge was that Srivastava had outraged their modesty and committed offences U/s 509 of IPC, 1860.
A brief summary of the case is given below:
Srivastava’s Allegation against P. Chidambram
That P. Chidambaram received several thousand crores by way of bribes, which NDTV laundered through dummy companies. Using his power positions, Mr. Chidambaram has scuttled all attempts at inquiry.
P. Chidambaram’s counter case: S.K. Srivastava is indisciplined and should be removed from government service. CBDT under P. Chidambaram told the Delhi High Court that Srivastava’s "performance ... has not been satisfactory" and "the department ... are not satisfied with the manner of his work".
A Partial List of NDTV’S Alleged Illegal Acts
No 1: SCAM OF RS. 5,500 CRORE PLUS:
NDTV allegedly laundered Rs. 5,500 crores by raising funds through “private placements”, from undisclosed investors in NDTV subsidiaries based in UK and Holland.
The sums raised by it through dubious investors not only paid off its Rs.-3,500 crore liability but left an amount in excess of Rs. 2,000 crore to be transferred to another account.
These funds were transferred to a Mauritius-based NDTV subsidiary.
These funds were then routed to several other NDTV subsidiaries in India.
These Indian subsidiaries were later merged with NDTV Ltd., India without giving a fair share holding right to the companies of Mauritius or UK or Holland.
Shockingly, both, the UK- and Holland-based NDTV subsidiaries, were closed down and so was the Mauritius company!
Why would investors in UK and Holland allow such actions if this were not a plain money-laundering scheme?
At present dollar values, with penalties and interest, the scam exceeds Rs. 5,500 crore.
Shockingly, none of the UK- and Holland-based subsidiaries of NDTV appeared in the annual reports filed that year by NDTV India and subsequently no critical details were provided to the relevant ministry when special intimation was filed before it for condoning the lapse. None was asked for either!
It is alleged by Srivastava that this money itself is “illegal”; it is not a case of undeclared business profits or money on which income tax has not been paid. It is money transferred out of the country, received as bribes by ministers, politicians or public servants or just one unknown politician through the same hawala route that terrorists use!
No 2: SCAM OF RS. 300 CRORE
NDTV allegedly showed false exports to Star TV in Hong Kong under section 80 HHF of the Income Tax Act. This act defrauded the government of revenue worth at least Rs. 300 crore at present value.
NDTV claimed illegal income tax deductions without making any actual exports and by bringing in Indian rupees instead of foreign exchange as stipulated in supporting judgements!
This deduction was allowed by an Income Tax officer Sumana Sen (IRS 99005) whose husband, Abhisar Sharma, has been an employee of NDTV, a fact that she had concealed all through her employment.
Going against service conduct rules, Sumana Sen accepted a gift of a luxurious all expenses paid European holiday from NDTV, whereby the latter allegedly also paid her shopping bills. All this totals to an expense of Rs. 1 crore. She filed false reports that her involvement with NDTV was in her official capacity. She claimed eligibility for accepting this Rs. 1 crore holiday as one of the perks allowed to her husband as an employee of NDTV. Records show that NDTV has incurred no such expense on any of its employees, including Abhisar Sharma. Srivastava’s allegation that it was a bribe to Sumana Sen for giving undue tax rebates to NDTV has been backed by solid documentary evidence.
Sumana Sen failed to inform the Income Tax Department that her husband was an NDTV employee while she was handling their tax matters. This is an obvious case of conflict of interest. In fact, she manipulated her transfer to the Circle under whose jurisdiction NDTV and its directors—including Prannoy Roy, Radhika Roy, Barkha Dutt, Vikram Chandra, etc.—come for the purpose of income tax assessment.
In order to pre-empt S.K. Srivastava from proceeding with these inquiries, Sumana Sen and her collaborationist filed false charges of sexual harassment against S.K. Srivastava. Srivastava alleges that P. Chidambaram had set up these women and used their false cases to suspend him and harass him through various unholy means.
Ashima Neb undertook a tour of Mauritius with her companion for about 10 days and incurred huge expenditure on shopping, hotel stay, etc., while claiming to spend a princely sum of Rs. 60,000 only on everything from air travel to hotel stay to local travelling to shopping to food, et-all! for both , she and her companion accompanying her.
All these cases against Srivastava were quashed yet P. Chidambaram continues to harass him and has set up another illegal inquiry that has been stayed by the Central Administrative Tribunal (CAT). Even though P. Chidambaram has been named by Srivastava in the inquiry, Chidambaram has not had the courage to file a reply.
(Here is the link to the departmental inquiry report vindicating Sanjay Srivastava on Sexual harassment charges : http://www.scribd.com/doc/175789159/NDTV-money-laundering-Annexure-9?secret_password=2jpv6pecii7osi9fos63)
NO. 3 - SCAM OF RS. 1.46 CRORE
In the same Assessment Year, Sumana Sen allowed tax refund of Rs. 1.46 crore to NDTV instead of implicating it in the above scams! She handed the cheque to NDTV through her husband Abhisar Sharma, then an NDTV employee (a direct conflict of interest, not statutorily disclosed by her, therefore illegal), in gross violation of the rules of refunding dues! The refund was not admissible and she passed illegal orders to illegally pay money to NDTV from government accounts!
Due to relentless battle waged by Srivastava and because of some still remaining honest IRS officers like the incumbent CIT, Delhi V and his subordinates, the I.T. Deptt. in Delhi could no longer ignore the fraud and loot of the public exchequer and public money. It has now succeeded in levying income tax on Rs. 900 crore of laundered money in one assessment year alone, i.e., 2009-10. Another Rs. 2000 crore of laundered money and bribe paid to public servants is under consideration for similar action.
The fraudulent acts and conduct of NDTV is made out from their abject inability to cross-examine Srivastava who recorded his statement on oath and offered to be cross- examined by NDTV. Nor could it rebut documentary evidence submitted by Srivastava to the I.T. Deptt.
But, all because of Chidambaram’s clout, the Dispute Resolution Panel (the DRP II, Delhi) of the Income Tax Department still managed to save NDTV and Chidambaram himself, as it did not ask for the list of investors who contributed the Pound Sterling 300 million to NDTV and its subsidiary in the UK, and then forgot to recover their money as that would have revealed the link of Chidambaram with NDTV, as alleged by Srivastava. The DRP has not exercised its powers to order search of NDTV to recover that list and the Member (Inv.), CBDT, who is known to be a blue-eyed boy of Chidambaram and was deputed by him to harass the Chief Minister of his home state, has simply turned a blind eye to this case to cover up the link between NDTV and Chidambaram.
There is a lot more to this case than the above-mentioned scams.
Further he says Since Srivastava’s battle is unlikely to get a proper hearing in mainstream media, I am posting his account in Hindi on YouTube.
Watch the video Rs.5500 Crore Money Laundering Accused NDTV and P Chidambaram
No one is guilty and Criminal unless and until pronounced by the court of law.
I do not know the truth about the case , in the larger interest video is again posted here.
Suggested Reading –
IT Commissioner SK Srivastava’s Battle against Thwarted Probe into Hawala & Tax Evasion Scam by NDTV
Reality views by sm –
Saturday, September 19, 2015
Tags – NDTV Scam Black Money Laundering Case
19 September 2015
Rs.5500 Crore Money Laundering Accused NDTV and P Chidambaram