Mumbai, Nov 23 (): Tehelka is owned by Anant Media Pvt Ltd, which as per data available with the Registrar of Companies, is a subsidiary of KDS Corporation, a company controlled by businessman and TMC Rajya Sabha MP Kanwar Deep Singh.
TMC MP Derek O’brien has tweeted that Singh is not the owner of Tehelka. Then who owns it? Shoma, MD of Tehelka said that financials of the company are strong. For the fiscal ending March 31, 2012, Anant Media posted a loss of 10.5 crore, an improvement from a loss of 16 crore in the previous year.
ROC has the balance sheet of Tehelka for the fiscal ended March 31, 2012. As per that date, 65% equity is with Royal Building and Infrastructure Pvt Ltd in Anant Media Pvt Ltd. KDS Corporation in turn owns 85% equity in Royal Building and Infrastructure. In KDS corp KD Singh and his wife Mrs Harpreet Kaur jointly own 23.93% equity, a holding company for companies that is a subsidiary of the Alchemist group, a conglomerate dealing in retail to real estate.
After the Tehelka sexual harassment case, Trinamool Congress MP Derek O’Brien tweeted that KD Singh had just clarified to him he did not own Tehelka. It’s not known if Singh’s companies have sold its stake in Tehelka after March 31, 2013.
Weldon Polymers Pvt Ltd holds 5% in Anant media. Ram Jethmalani, one of the minority shareholders in the media company, has appeared for Tejpal in court earlier, said he would not take up the case. Since the December gang rape case in Delhi, he decided not to appear in any such case.
Placid Estate and Optimum Constructors and Developers Pvt. Ltd is owned by (23%) by KDS Corp itself. During the fiscal ended March 31, 2012 balance sheet, KD Singh and his wife sold the shareholding of Placid Estate to RB Chabria and Satish Mehta. Mehta is on the board of Anant Media, which has two members from the Alchemist group and Tarun Tejpal and sister Neena Sharma.
The Alchemist group company gave an unsecured loan of Rs 19 crore to Anant Media in the fiscal ended 31 March 2012. KD Singh in 2011 was stopped at New Delhi airport with a large amount of cash, while boarding a flight to Assam, where assembly polls were due and TMC was contesting. CPM alleged that Singh carried Rs 57 lakh to Assam for elections by saying he was as an employee of the Alchemist.
SEBI stopped Alchemist Holdings from taking deposits from the public. Alchemist holdings and Alchemist Infra Realty Ltd raised Rs 1,400 crore in various illicit schemes. In June, SEBI told Alchemist Infra to repay the money to investors.
Last year, the government instituted a probe by the Serious Fraud Investigation Office into Alchemist.