Radhika Roy

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Radhika Roy
Born
Radhika Das

(1949-05-07) 7 May 1949 (age 71)
OccupationCo-Founder, Co-Chairperson NDTV
Spouse(s)Prannoy Roy
Children1
RelativesBrinda Karat (sister)

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.

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[edit]

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[who?] 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[clarification needed] 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[edit]

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

Corruption allegations[edit]

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[edit]

  1. ^ a b "Radhika Roy". Bloomberg. Retrieved 18 January 2017.
  2. ^ a b c d Bansal, Shuchi (21 April 2003). "Radhika Roy: NDTV's heart and soul". Rediff India Abroad. Retrieved 18 January 2017.
  3. ^ a b 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.