Ahmedabad: Report that the subsidiary of Adani Group has taken over 29.18 percent stock of NDTV. But later the owners and promoters of NDTV clarified that the move was done without their knowledge or consent.
The action by Vishwapradhan Commercial Pvt Ltd, a subsidiary of the Adani Group, is for alleged breach of loan agreement in 2009-10. Vishwapradhan Commercial Pvt Ltd is a company under the ownership of Adani’s AMG Media Networks Ltd. Vishwapradhan Commercial Pvt Ltd has acquired the shares of RRPR Holding Pvt Ltd, which holds 29.18 percent stake in NDTV.
Radhika Pranoi Roy, one among the founders and promoters of NDTV said that these matters were not discussed with them. Meanwhile, NDTV clarified that Vishwapradhan Commercial Private Limited had sent a notice two days ago asking for the transfer of these shares. There will be no change in the shareholders or in the management of the company, informed the company.
NDTV 24×7, NDTV India, NDTV profit are the channels under NDTV. Apart from news channels there are also online platforms. There were reports that the shares of NDTV would be bought in September. After this, the shares of NDTV also rose.
Earlier, a sub company of Adani Group had informed that it has an indirect stake of 29.18 per cent in NDTV. With this, the company claimed that it is in the process of acquiring 26 percent more shares. It became a big discussion in the financial world about the news that Adani Group has acquired the shares of NDTV. Investors are waiting for the current confusion to get clear.