The CBI has registered a case against NDTV founder Prannoy Roy, his wife Radhika Roy, a private company and others for causing an alleged loss to a bank.
Searches are being conducted at the residence of the Roys at Greater Kailash-I in New Delhi, sources told The Hindu adding that four locations were under the scanner.
A senior CBI official said the rationale behind registering the case related to ICICI Bank against Mr. Roy and others is the Supreme Court directive in the Global Trust Bank case in February last year, in which court said chiefs of private banks should also be treated as public servants under the Prevention of Corruption Act. Embezzlement of public money kept in private bank would, therefore, be covered.
The NDTV has termed the raids a "witch-hunt" based on "same old endless false accusations."
The television channel has released the following statement:
"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."