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A recently unveiled biography, 'Dear D.R', has ignited a dispute within Odisha's business community by asserting a complex narrative between renowned industrialist Dipti Ranjan (D.R) Patnaik and prominent hotelier and politician Dillip Kumar Ray. The book alleges that Patnaik, noted for his mining ventures, faced deception in his dealings with Ray.
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Soumya Ranjan Patnaik, a former MLA and Dipti Ranjan's younger brother, has discredited parts of the book, questioning its veracity. “Not everything stated in a book is factual,” Soumya Ranjan asserted.
Allegations within the tome suggest that Dipti Ranjan had extended a financial support of Rs 200 Crore to Ray, anticipating an equity stake in Ray's Mayfair Hotel chain in Gopalpur. It is alleged that Ray later reneged, offering a share in a Raipur property instead.
Further contentions arise over Ray's purported failure to fulfil promises, allegedly leading to only a directorial role for Patnaik in the company. This situation has sparked conversations on potential political motives since Patnaik did not support Ray's candidacy in the 2024 elections, a shift from his previous backing in 2014.
Claims of unresolved debt further fuel the saga, with the biography indicating Ray still owes approximately Rs 300 Crore to Patnaik despite some repayments. Attempts to contact Dillip Ray for a response have been unproductive.
Another chapter introduces a narrative around a ‘close aide’ of Odisha's now Opposition Biju Janata Dal (BJD), VK Pandian, highlighting his involvement in the familial corporate strategies which led to significant changes in media ownership.
Efforts to obtain responses from VK Pandian or BJD leaders remain unanswered.
The account details how Dipti Ranjan allegedly obtained a controlling interest in a media firm under Soumya Ranjan's supervision, for a consideration of Rs 150 Crore.
This arrangement reportedly shifted after the BJD lost power, with Dipti Ranjan withdrawing from operations upon persuasion from Soumya Ranjan’s confidant, all while withholding the formal transfer of ownership pending full financial settlement.
The complexity of Eastern Media Ltd's current status reflects this entangled backdrop.
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“Three persons had contributed to the company’s growth, namely Janaki Ballabh Patnaik, Niranjan Patnaik, and D.R Patnaik. Of course, he has also mentioned the name of Amiya Patnaik. The editorials of Soumya Babu had created havoc in Odisha politics and brought the then government to a staggering position,” noted columnist Janakish Badapanda said.
Reported By: Pawan Tiwari, Laxminarayan Kanungo, Soumya Ranjan Sahoo
