Conflict and fraud at INX Media Starting from mid-2007 Indrani Mukerjea, as the chairperson of INX News, found herself in conflict with
Vir Sanghvi, the CEO over control of the organization. On January 23, 2008 NewsX announced that as a consequence, Vir Sanghvi would resign on January 29, 2008. On the evening of January 31, 2008 Indrani Mukerjea fired five television journalists at NewsX without prior notice or explanation: executive editor Avirook Sen, head of domestic news, Rajesh Sundaram, editorial adviser
Nick Pollard, consultant Arun Roy Chowdhury, and news anchor Kailash Menon. Protesting against this unprofessional conduct, a further nine television journalists resigned, among them news coordinator Prakash Patra, and Narendra Nag. The following day, February 1, 2008, a group of former NewsX employees took their grievances to
Priya Ranjan Dasmunsi, then
Minister of Information and Broadcasting in the
Government of India. Dasmunshi conveyed their concern over dubious sources of funding at INX Media to
P. Chidambaram, then
Minister of Finance in the
Government of India. Chidambaram in turn requested the
Serious Fraud Investigation Office (SFIO) to look into the allegations of financial impropriety. In February 2008 Rajesh Sundaram and Avirook Sen filed legal notices against NewsX seeking damages over their unfair dismissal. By September 15, 2008 Avirook Sen had received a settlement worth ₹2 crore (₹20 million) paid out over four equal monthly installments. In the weeks following the departure of Vir Sanghvi, there was a mass exodus of talent from NewsX, leaving it unable to meet its commitment to jittery investors of the launch of a news channel by March 31, 2008. As per SFIO, Chhajlani's Nai Dunia was also indirectly owned by Mukesh Ambani, thus making IM Media and Nai Dunia related companies. On January 7, 2009 shares in INX Media, previously valued at ₹208.24, were sold to Nai Dunia for just ₹10 each. The SFIO report recommended charges be filed for causing wrongful losses to the ordinary shareholders of RIL under Indian Penal Code Sections 120B (conspiracy), 415 (cheating), 418 (cheating with knowledge that wrongful loss may ensue to person whose interest offender is bound to protect), and 420 (cheating and dishonestly inducing delivery of property).
Foreign exchange violation at INX Group In 2010, the
Enforcement Directorate, a financial crime fighting agency, registered a case under
Foreign Exchange Management Act (FEMA) for diverting
foreign direct investment by three Mauritius-based companies in INX Media to its step down subsidiaries without prior approval of the
Foreign Investment Promotion Board (FIPB). The three companies named were New Vernon Private Equity Limited, New Silk Route (NSR) PE Mauritius, and Dunearn Investment (Mauritius). In 2013 the investigation was halted without explanation. In May 2014 the investigative wing of the
Central Board of Direct Taxes compiled a tax history of the INX Group and suggested that the Mukerjeas had laundered ₹275.5 crore (₹2.755 billion) via Mauritius into eight INX Group subsidiary companies between 2007 and 2008. In September 2015 the Mumbai office of the Enforcement Directorate indicated that it would reopen the 2010 FEMA case under the
Prevention of Money Laundering Act, 2002.
Sheena Bora murder case In 2015 Indrani Mukerjea was arrested by
Mumbai Police in connection with the alleged murder of her daughter, Sheena Bora, in 2012. She was sent to judicial custody at a women's-only prison in
Byculla Jail, Mumbai. The
Central Bureau of Investigation (CBI) took over the case and filed charges against Indrani under the
Indian Penal Code Sections 302 (murder), 201 (causing disappearance of evidence), 34 (criminal conspiracy), 420 (cheating and forgery), 364 (kidnapping) and 120-B (conspiracy). CBI officials contended that Peter and Indrani Mukerjea had siphoned off money from
INX Media and parked it in an offshore bank account in Sheena Bora's name. The CBI speculated this financial angle as a motive for Sheena Bora's murder. Sheena Bora was also in a relationship with Peter Mukerjea's son from earlier marriage, Rahul, which Indrani Mukerjea disapproved of. While in custody, Mukerjea informed the court in 2016 that she had translated 700 verses of the
Bhagavad Gita into English from
Sanskrit. She had sought permission from a CBI court in Mumbai to publish them. In 2017, following a jail inmate's death due to alleged torture by jail officials, Indrani and 200 other prisoners in Byculla women's prison were booked for rioting. The jail officials accused of murdering the inmate are currently being tried in a fast-track court. After her bail plea was rejected by the
Bombay High Court, the Supreme Court granted her bail in 2022 after more than 6 years as an undertrial, and she returned home to her Worli residence. The Court while granting bail, noted that of the 237 prosecution witnesses, 185 witnesses still remain to be examined, and there was no sign of the trial completing soon. Her bail conditions included surrendering her passport, not contacting any of the witnesses, and not seeking adjournment of the case. In 2024,
Netflix released a docuseries
The Indrani Mukerjea Story: Buried Truth, which explored the case. == Memoir ==