29% of Stake acquired without Discussion, Consent or Notice: NDTV

After Adani Group’s statement of acquiring 29% indirect stake through Vishvapradhan Commercial Private Limited (VCPL), the media group today clarified that without any discussion with NDTV or its founder promoters, VPCL served it a notice of acquisition.

“Without any discussion with New Delhi Television Limited (NDTV) or its founder-promoters, a notice has been served upon them by Vishvapradhan Commercial Private Limited (VCPL), stating that it (VCPL) has exercised its rights to acquire 99.50% control of RRPR Holding Private Limited (RRPRH), the promoter-owned Company that owns 29.18% of NDTV”, NDTV said.

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NDTV further said that The notice from VCPL is based on a loan agreement it entered with NDTV founders Radhika and Prannoy Roy in 2009-10.

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 media group further said 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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