Prannoy Roy and Radhika Roy quit as NDTV directors after Adani Group takeovers it

New Delhi, Nov 30: Prannoy Roy and his wife Radhika Roy have quit RRPR Holding Private Limited (RRPRH), which is the promoter group entity of NDTV. This came after 99.5% of the equity of RRPR Holding was transferred to Vishvapradhan Commercial Vishvapradhan Commercial private limited (VCPL) owned by the Adani group.

 

 

"NDTV's promoter group vehicle RRPRH has approved Prannoy Roy & Radhika Roy's resignation following a meeting held on November 29", the statement read.

 

 

 

 

With the exit of Prannoy Roy and Radhika Roy, three new directors have been appointed to the board of the company - Adani Group CEO Sudipta Bhattacharya, AMG Media Network CEO and Editor in chief AMG Media Network, and Senthil Sinniah Chengalvarayan, director at Adani group owned Vishvapradhan Commercial Pvt. Ltd.

 

Earlier in August this year, Vishvapradhan Commercial Private Limited (VCPL), a wholly owned subsidiary of AMG Media Networks Limited (AMNL) which is a 100 per cent subsidiary of Adani Enterprises Limited (AEL), exercised the rights and acquired 99.5 per cent of the equity shares of RRPR Holding Private Limited, a promoter group company of NDTV.

 

 

Following this, Adani Group decided to make an open offer to acquire the next 26 per cent state stake in NDTV, which will take the group's total stake to 55.18 per cent, enough to take the ownership right of NDTV.

 

Earlier in October, the Adani Group informed both exchanges, BSE and NSE, that its indirect subsidiary, Vishvapradhan Commercial Pvt Limited (VCPL), had made an open offer to the public shareholders of New Delhi Television Ltd. However, the Roys hold a 32.26 per cent stake in NDTV.

 

NDTV is known for being leftist and spreading its agenda to mislead the public.