Rs 18 crore penalty for JJ TV
March 29th, 2008
Televisionpoint.com Correspondent
The adjudication authority in a FERA violation case has imposed a penalty of Rs 18 crore on now defunct JJ TV and its directors Sasikala, the confidant of AIADMK general secretary Jayalalithaa, and V Bhaskaran, the nephew of Sasikala.
The case was filed by the Enforcement Directorate (ED) in 1996-97 when, Jayalalithaa was the chief minister of Tamil Nadu. The case of the Enforcement Directorate (ED) was the directors had acquired foreign exchange to the tune of $ 6,80,000 without RBI permission. The amount was paid to US-based Rimsat and Philippines based Subic Bay Satellite systems as transponder charges and uplinking charges for telecasting programmes under the logo JJTV.
The ED also alleged that the company and the directors had also entered into an agreement with the two companies for making annual charges of $ 13.6 lakh without RBI permission. Based on the investigation done in India and abroad the ED had filed a case in 1996-97.
Both Sasikala and Bhaskaran filed a series of petitions in the Madras High Court and obtained a stay against the adjudication proceedings. The case was adjudicated after the stay was vacated. The adjudication officer imposed a penalty of Rs 8 crore on the company. Sasikala and Bhaskaran have been directed to pay Rs 4 crore and Rs 6 crore. It is not known whether, Sasikala and Bhaskaran have obtained any legal remedy.
March 29th, 2008
Televisionpoint.com Correspondent
The adjudication authority in a FERA violation case has imposed a penalty of Rs 18 crore on now defunct JJ TV and its directors Sasikala, the confidant of AIADMK general secretary Jayalalithaa, and V Bhaskaran, the nephew of Sasikala.
The case was filed by the Enforcement Directorate (ED) in 1996-97 when, Jayalalithaa was the chief minister of Tamil Nadu. The case of the Enforcement Directorate (ED) was the directors had acquired foreign exchange to the tune of $ 6,80,000 without RBI permission. The amount was paid to US-based Rimsat and Philippines based Subic Bay Satellite systems as transponder charges and uplinking charges for telecasting programmes under the logo JJTV.
The ED also alleged that the company and the directors had also entered into an agreement with the two companies for making annual charges of $ 13.6 lakh without RBI permission. Based on the investigation done in India and abroad the ED had filed a case in 1996-97.
Both Sasikala and Bhaskaran filed a series of petitions in the Madras High Court and obtained a stay against the adjudication proceedings. The case was adjudicated after the stay was vacated. The adjudication officer imposed a penalty of Rs 8 crore on the company. Sasikala and Bhaskaran have been directed to pay Rs 4 crore and Rs 6 crore. It is not known whether, Sasikala and Bhaskaran have obtained any legal remedy.
