Alleged iTV Revival to Block Pita Limjaroenrat’s Premiership
The Move Forward Party (MFP) is currently exploring legal action against individuals involved in purported attempts to resuscitate the defunct media company iTV. The objective of these attempts is to use the company to bar party leader Pita Limjaroenrat from becoming prime minister. MFP secretary-general Chaithawat Tulathon claims that a video taken during iTV’s online shareholders’ meeting in April contradicts the official minutes, revealing crucial information about efforts to revive the delisted company and portray it as an active media organization.
Pita inherited 42,000 shares in iTV from his father; however, he maintains that they have all been transferred to relatives’ names and do not impact his eligibility to serve as an MP or prime minister. His political adversaries beg to differ. If they can prove that iTV is an active media organization, Pita could face disqualification.
Discrepancies Between Video and Official Minutes
The video in question shows shareholder Phanuwat Kwanyuen asking, “Does iTV perform media tasks?” iTV chairman Kim Siritaweechai, who presided over the online meeting, clearly responds, “As of now, the firm does not do anything. It has to wait for a legal case to end.”
Contrarily, the official minutes from the April 26 general meeting assert, “Currently, iTV still operates in accordance with the company’s objectives and submitted financial statements and corporate income tax as normal.”
On May 10, political activist Ruangkrai Leekitwattana submitted the minutes as the main piece of evidence in his petition to the Election Commission, urging them to investigate Pita over the shares. iTV was established in the 1990s and ceased broadcasting in 2007.
MFP’s Call for Clarification
In light of these inconsistencies, Chaithawat is seeking clarification from Kim and Jitchart Musikabutr, a company representative who examined and edited the minutes. Jitchart serves as the chief legal officer and secretary of Intouch Holdings Plc, iTV’s major shareholder. Chaithawat inquires, “Is Intouch Holdings aware of changes in the official minutes that contradict the facts at the meeting?”
These issues align with Pita’s earlier remarks concerning efforts to revive the moribund media company as a means of launching a political attack against him. In response to reporters’ questions on Monday, Chaithawat disclosed that the party is considering legal action against those involved.
Changes in Financial Statements
iTV submitted its financial statement to the Department of Business Development on May 10, four days before the election and the same day Ruangkrai petitioned the Election Commission. In the statement, iTV is described as a TV organization.
In the 2018-2019 financial statement, iTV was classified as a holding company. However, in the two subsequent financial statements, it was identified as a TV organization. These changes contradict another response from Kim during the shareholders’ meeting on April 26, when one shareholder inquired about iTV distributing dividends to shareholders.
Kim explained in the clip that the outcome of the legal case was the company’s most crucial point, adding that it was difficult to proceed without knowing the results. The firm had previously hired financial consultants to study options but had not yet found a suitable resolution. A decision would have to wait until the court case concludes.
Chaithawat highlights that Kim’s statements during the meeting demonstrate that the executive chairman was unaware that iTV operated as a television organization and derived income from advertising. The MFP secretary-general questions why iTV’s financial statement, submitted to the department on May 10, claimed income came from its television media.