BJP’s Subramanian Swamy alleges ‘monumental corruption’ in Times of India Group, asks PM Modi for probe

BJP leader Subramanian Swamy has written to Prime Minister Narendra Modi asking for an investigation into “monumental corruption” by the Jain family, which runs the Times of India Group.

Swamy accused the family of laundering money and evading tax. Samir Jain, Vineet Jain and their mother Indu Jain had floated a network of shell firms to dubiously buy back shares from minority shareholders of their media empire, he alleged, according to PGurus. “This fraud has been going on for decades and past governments have not detected this consequent corruption committed,” Swamy added.

He urged Modi to direct the corporate affairs ministry, law enforcement and regulatory agencies to “seriously act and investigate the whole matter to its logical end”.

Here is Swamy’s letter in full, uploaded by PGurus.