[Exposed] The web of lies of alleged fact-check portal AltNews & directors.
Pravda Media (parent co), a not-for-profit, not just making huge profits but systematically retaining most of them.
Let's take a deep dive into the financial stats of the 'charity'. #TheHawkEyeThread 1/
Pravda, largely run by a trio Nirjari Sinha (promoter & MD) & 2 directors- Pratik Sinha, son of MD (i.e. related party) & Md Zubair.
They often claim crowdfunding as 'only source', however, 38% of funds are institutional grants & 9% comes from interest on FD & other income. 2/
In past 3 years, IPMSF (donated 1.7Cr), same org that funds most of the leftist media. Infosys (10L)’ KRN Murthy is ex Ford Foundation who mediated with MEA/MHA when it was on verge of shutdown. Zindabad Trust (8.5L) run by Arundhati Roy, doesn’t need an introduction.
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The directors often pretend to struggle for the monthly fund target, while Pravda has 2.7Cr Reserves (UNUTILISED).
Interestingly crowdfunding (2.9Cr) in the past three years is almost equal to UNUTILISED funds (2.7Cr).
And the bank FD increased from 13L to 1.7Cr same time. 4/
Given the total expenses, Pravda's operational cost is ~9.6L per month.
Simple maths, with 2.7Cr of reserves, the company can run (with the same hefty salary structure) for the next 28 months without any source of income.
And all this while there is frequent fund appeal!! 5/
Quick snapshot of Pravda's financial:
> 2.7Cr Unutilized, includes
> 1.7Cr FD
~FY20-21~
> 1.96Cr, Revenue
> 80L, Net Profit
> 1.16Cr, Expenses that includes
> 54L, salary of 3 directors i.e.
> 47% of overall expenses
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> In easy understanding 80 (net profit) + 54 (salary) = 1.34Cr, i.e. 68% money route to home only.
(54L breakup= N'Sinha 6L, P'Sinha 24L, MdZu 24L)
> Pravda's revenue shot up 5x and so reserves turned 11x in the past 3 yrs.
NOT to forget, all under tax exemptions of Sec 8.
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As per a claim by director Zubair in Dec'21, institutional grants are now discontinued. However, this doesn't match with the IPSMF website that shows Alt News as "active grantees".
In any case, no surprise if the grants are withheld given the reserve funds for 28 months. 8/
A Sec-8 reg company is exempted from taxes as the objective of establishment is charity. The company, if making a profit, the objective remains same & and funds must be utilized for said charity purpose only.
Read the underlined clauses in AOA and MOA carefully. 9/
Applicability may be contested, but despite having good reserves, even during the peak of the pandemic, Pravda hasn't spent anything on CSR (Corporate & Social Responsibility) which is 2% of average net profit for the past three years. 10/
Apart from loud & clear financial stats, misleading claims, high possibility of either misusing or violating laws, Pravda apparently doesn't meet the objective of "independent publication in the public interest" with highly biased views, manipulative (at times).
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Check this thread by @vijaygajera where misusing of Sec8 & IPSMF funds were highlighted in Aug’21
Amidst the #InformationWar, 'The Hawk Eye' is an attempt to connect the dots against industrialized disinformation campaigns. Support the efforts & be an eye:
'Where is updated report?'
'Nahi dali, as simple as that'
For the record, these are shocking responses from MD, Pravda in the public domain when confronted by donors seeking transparency which they are committed to as a tax-exempted charity co that runs on public donations. 16/
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Late night in Noida, a plainclothes police team crept into the dark lanes of Nahal- a locality notorious for sheltering criminal elements.
Target: a 24-year-old young auto-theft kingpin - Qadir.
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Acting on a tip-off, the team approached quietly, hoping to make a silent arrest. But fate has written something else for all the characters in this story.
As soon as cops approached and he sensed the trap, Qadir raised an alarm (read SOS) hysterically.
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Within seconds, Nahal came alive and a mob of "unidentified locals" swarmed in, hurling stones offering a great resistance to the arrest of their local hero.
Amid the chaos, Qadir's man opened fire, hitting Ct. Saurabh Kumar straight in the head.
A mysterious wave of killings has struck key terrorists linked to the terror attacks on Indian soil. Many of them were knocked down deep inside Pakistan.
Hamdard (Rooh Afza maker) claimed that "each glass that you enjoy contributes to the nation building".
This claim is disputed. Let me tell you why!
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To start with Hamdard is a WAQF property since 1948. The owners made some arrangement of keep the company & family running and the part pledged to the God.
The arrangements were made in the name of (a) Khandani Income and (b) Quomi Income
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After reserving 1/8 part (ultimately for muwwalis caretakers) of
Khandani Income is for personal (family) needs 1/4th and rest for community). Net net 75% as WAQF charity. In fact Hamdard has taken tax exemption on this Quomi income part.
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They made Aurangzeb a 'secular ruler'.
They glorified Khilafat as 'unity'.
But they cleverly erased C. Sankaran Nair - the man who exposed the Truth of Moplah, the burning facts!
#KesariChapter2 #SankaranNair
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A staunch nationalist lawyer, Nair never minced words. He said Congress’ Khilafat obsession led to the mass murder of Hindus in #MoplahMassacre. He documented the violence, the forced conversions.. and the r@pes.
And for that- he was CANCELLED by the Congress 'ecosystem'.
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While Congress tiptoed, Nair roared, “This wasn’t a peasant uprising - it was a bloodbath of Hindus!”.
He exposed how Khilafat turned into a cover for communal cleansing.
But speaking up for Hindus = unforgivable sin for Congress. So, they buried him.
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