Confident Group Not Linked To Any Wrongdoing, All Investment Commitments Transparent, Says MD T A Joseph
At a press conference in Kochi, Joseph said such reports had greatly upset Roy’s family.
THIRUVANANTHAPURAM: Confident Group Managing Director T A Joseph on Monday said misleading reports were being spread online about the company’s chairman, Roy C J, who dead by suicide on January 30.
At a press conference in Kochi, Joseph said such reports had greatly upset Roy’s family. He explained that the recent raids carried out by the Income Tax Department at the Confident Group’s Bengaluru office were routine in nature and not linked to any wrongdoing. Similar inspections had taken place earlier in 2016, and the latest one was also just a routine check, he added, emphasizing there was nothing improper on the company’s part.
The MD dismissed allegations circulating on certain YouTube channels about the company’s alleged links to FEMA violations and money laundering. He stated there is a deliberate attempt to target the deceased, calling such efforts unacceptable and aimed solely at destroying the family.
Joseph claimed that Confident Group is debt-free and has no investors, explaining, “Our clients themselves are our investors,” while stressing the company has no involvement in money laundering or any illicit activities. All investment commitments, including Roy’s investments in the film industry, are fully transparent.
Joseph assured investors that all ongoing projects are progressing as planned despite the chairman's death. He emphasized that the chairman's passing will not impact the projects. Several initiatives have been taken up in Kerala, and the team takes full responsibility for them.
Regarding the Bengaluru projects, which were directly supervised by Roy, these are largely complete, with only painting work remaining on two of them.
He mentioned that the IT officials who conducted the inspections were cooperative during the search operations. There was no harassment of any kind, and the inspections were carried out during working hours. The IT officials were courteous and helpful.
Joseph also denied allegations by Roy's brother that the chairman had been harassed by the IT officials. "There was no such incident during the inspection," he said, adding that they have full confidence in the ongoing probe being conducted by the Special Investigation Team.