of financial transactions that the Roys have carried out from the mid 2000s onwards have been under close investigation by government agencies.

In 2013, Sanjay Dutt, director of a financial-services firm Quantum Securities who owned around 125,000 shares in NDTV, had filed complaints with Enforcement Directorate and Directorate General of Income Tax alleging that that NDTV and its promoters had violated a number of laws. In January 2015, Dutt had filed a writ petition in Delhi High Court against Enforcement Directorate and Directorate General of Income Tax Investigation alleging that both agencies failed to act on his complaints.

The Enforcement Directorate, in November last year, had slapped a show cause notice to NDTV for flouting foreign exchange regulations while bringing foreign investments to the tune of Rs 2,030 crore between2007-10.

A book named ‘NDTV Frauds’, written by Sree Iyer, talks in detail about alleged illegalities committed by the media group.

The raids come on a day the broadcaster is taking its English business news channel NDTV Profit off air. It could be noted that NDTV Profit continued to have the lowest TRP among the genre of business-economy channels. Even the general news channels in Hindi and English have failed to top the TRP charts.

During the quarter ending 31 December 2016, NDTV had reported a consolidated revenue loss of Rs 18 crore following a dip in advertising revenue. Facing financial losses, the channel has put its assets on sale.

NDTV is facing three-fold challenges – revenue loss, fraud and credibility crisis. NDTV, primarily a left-leaning television news channel, often faces a