• Wed. Apr 17th, 2024

NDTV releases statement on 29% being acquired by Adani Group today

That NDTV has been acquired by the Adani Group now has an official statement from the media company. The organisation has informed that without any discussion with New Delhi Television Limited (NDTV) or its founder-promoters, Radhika and Prannoy Roy, a notice was served upon them by Vishvapradhan Commercial Private Limited (VCPL) stating that it (VCPL) has acquired control of RRPR Holding Private Limited (RRPRH). This entity owns 29.18% of NDTV. It has been given two days to transfer all its equity shares to VCPL.

Also, that VCPL has exercised its rights based on a loan agreement it entered with NDTV founders Radhika and Prannoy Roy in 2009-10.

Meanwhile, the organisation has clarified, the NDTV founders and the Company would like to make it clear that this exercise of rights by VCPL was executed without any input from, conversation with, or consent of the NDTV founders, who, like NDTV, have been made aware of this exercise of rights only today. As recently as yesterday, NDTV had informed the stock exchanges that there was no change in the shareholding of its founders.

The organisation has further reiterated that, NDTV has never compromised on the heart of its operations – its journalism. “We continue to proudly stand by that journalism.”

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