NEW DELHI: The Central Bureau of Investigation (CBI) has filed a closure report in an alleged cheating case involving former NDTV promoters and directors Prannoy Roy and Radhika Roy.
As per officials, the sleuths could not find ‘legally tenable evidence’ in the Rs 48 crore loss incurred by ICICI Bank in the settlement of a loan in 2009.
The CBI had filed an FIR in this case in 2017 on the basis of a complaint from an individual, Sanjay Dutt of Quantum Securities Ltd, who alleged RRPR Holdings, associated with the Roys, had taken Rs 500 crore loan from IndiaBulls to acquire a 20% stake in NDTV via a public open offer. As per the FIR, RRPR Holdings also took a loan of Rs 375 crore (with Rs 350 cr disbursed) from ICICI Bank at an interest rate of 19% per annum to repay the loan from IndiaBulls.
The complaint had alleged the Roys pledged their entire shareholding as collateral for this loan, failing to report it to the Sebi, stock exchanges, or the I&B ministry.
In 2022, Adani Group acquired a controlling stake in NDTV, purchasing shares from the Roys. The officials said after over 7 years of probe, the CBI has now filed a closure report with a special court, which will determine whether to accept the report or instruct the agency to continue probe. Following searches on June 5, 2017 by the CBI, NDTV had said the loan of Rs 375 crore from ICICI Bank, which it was accused of defaulting, had been repaid over 7 years ago.