ED begins money laundering investigation against NDTV

The Enforcement Directorate (ED) has begun a money laundering investigation against TV channel NDTV in connection with some foreign funds received by it in the past, an ED official said today.

The probe has been initiated under the provisions of the Prevention of Money Laundering Act (PMLA), the official said, adding it is related to the ED’s investigations in connection with “foreign funding” transactions of the entity.

More details about the exact charges being probed by the agency were not available as the official said the case is sub-judice.

The NDTV, meanwhile, alleged “intimidation of epic proportions” by central probe agencies in the last 24 hours.

It said the three central agencies– the CBI, the ED and the Income Tax Department are “attacking NDTV over one transaction in which GE, USA, made a USD 150 million investment in NDTV–a perfectly legitimate and publicly, officially declared investment-which they are calling a ‘sham transaction’.”

“India-and the world-is watching this witch hunt against independent media. It will irreversibly hurt India’s reputation as a democracy with a flourishing and free press.

Especially shocking is a demand of Rs 429 crore from the Income Tax Department. The department’s letter, sent today, says NDTV has to pay the amount ‘immediately now’ (sic!),” …read more