Prannoy Roy NDTV
Prannoy RoyTwitter/Prannoy Roy

The Central Bureau of Investigation (CBI) has registered a case against Prannoy Roy, the co-founder and executive co-chairperson of NDTV, for allegedly causing a huge loss of Rs 48 crore to the ICICI Bank.

A case has also been registered against his wife Radhika Roy, and a private company and a few others allegedly involved in the case. The CBI carried out raids at Roy's residence in New Delhi. "Searches are being conducted today at four places including Delhi and Dehradun," CBI sources were quoted by ANI as saying.

According to the FIR filed, the Rs 48 crore loan defaulted by Roy is for a company named RRPR Holdings Private Limited, the Indian Express reported.

Meanwhile, NDTV released a statement slamming all allegations by the investigating agency. The statement read:

"This morning, the CBI stepped up the concerted harassment of NDTV and its promoters based on the same old endless false accusations.

NDTV and its promoters will fight tirelessly against this witch-hunt by multiple agencies. We will not succumb to these attempts to blatantly undermine democracy and free speech in India.

We have one message to those who are trying to destroy the institutions of India and everything it stands for: we will fight for our country and overcome these forces."