NDTV will not make any compromise in its activities and journalism. In the explanatory note, ND TV also stated that we pride ourselves on follow-up journalism.
New Delhi, First Published Aug 23, 2022, 10:35 PM IST
Delhi: NDTV founder-promoters have said that Adani Group bought 29% stake in NDTV without any discussion, consent or notification. According to the company, Vishwapradhan Commercial Pvt Ltd took control of RRPR Holding Pvt Ltd, which holds around 29 per cent stake, without any discussion with NDTV founder promoters Radhika and Prannoy Roy.
Two days ago, VCPL had sent a notice to RRPRH. The firm owns 29.18% of NDTV. The notice allowed two days to transfer all its equity shares to VCPL. VCPL sent this notice based on the loan agreement entered into with NDTV founders Radhika and Prannoy Roy in 2009-10.
But in an explanatory note issued today, NDTV’s founder promoters said that such a move was made without any discussion with the founders of NDTV using the terms of the loan agreement. The explanatory note also states that NDTV informed the stock exchanges yesterday that there is no change in the shareholding of the founders.
NDTV will not make any compromise in its activities and journalism. The explanatory note also states that we pride ourselves on follow-up journalism.
Adani Group said today
According to a press release, VCPL has acquired 99.5 per cent equity shares of RDTV’s promoter firm RRPR Holding Pvt Ltd, which holds 29.18 per cent stake in NDTV.
At the same time, the Adani Group will be able to make an open offer to acquire up to 26 per cent stake in NDTV as per SEBI’s takeover rules, according to the press release.
“An open offer is hereby made along with VCPL, AMNL and AEL to acquire up to 26 per cent stake in NDTV, as per the SEBI (Substantial Acquisition of Shares and Acquisitions) Regulations, 2011,” the news note said.
NDTV acquired by Adani Group; Owned 29.18 percent share
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Last Updated Aug 23, 2022, 10:35 PM IST
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