India

Ravish Kumar resign NDTV, here is reason behind it…

Popular journalist Ravish Kumar is no more with NDTV. He has resigned. His resignation has also been accepted by the management. Along with the resignation, he is continuously trending on Twitter.

Let us tell you that on the previous day, NDTV founder Prannoy Roy and his wife Radhika Roy resigned as directors of RRPR Holding Pvt Ltd, a unit of the promoter group. In fact, the Adani group has now come close to acquiring this news channel.

Ravish Kumar Facebook

Adani Group had acquired RRPR. It’s holds 29.18 per cent stake in NDTV. However, the Roys still hold 32.26 per cent stake in NDTV as promoters and have not resigned from the news channel’s board of directors.

Prannoy Roy is the chairperson of NDTV and Radhika Roy is the executive director. NDTV in a communication sent to the stock exchanges on Tuesday said that Prannoy and Radhika Roy have resigned from the board of directors of RRPR Holding Pvt Ltd (RRPRH) with immediate effect.

NDTV said that the board of directors of RRPR Holding has approved the appointment of Sudipta Bhattacharya, Sanjay Puglia and Senthil Sinnaiah Chengalvarayan as directors on the board with immediate effect.

Shares given in lieu of loan of 400 crores

In fact, the Roy couple had taken an interest-free loan of Rs 400 crore in 2009 from a company linked to Reliance Industries. This company was Vishwapradhan Commercial Private Limited (VCPL). In lieu of this loan, VCPL got the right to convert the warrants into shares of RRPR Holdings. RRPR Holdings holds 29.2 per cent stake in NDTV.

Adani Group acquired

Adani Group had acquired the same VCPL in August and had talked about converting the warrants into shares. The promoters of NDTV had initially opposed the move saying they were not in talks with them but earlier this week gave their go ahead. This gave VCPL a 99.5 per cent stake in RRPR Holding.

RRPR (Radhika Roy Prannoy Roy Holdings Private Limited) is still the promoter entity. It has 29.18 percent stake in the news channel. Prannoy Roy holds 15.94 percent of NDTV and Radhika Roy holds 16.32 percent (total 32.26 percent).

Ravish Kumar, former NDTV journalist wrote on Twitter after his resignation –

 


Read more latest news on Newsreaders
Download the News Readers App



Read more latest news on Newsreaders
Download the News Readers App

Read Full News > Click Here

Mak Dell

Mak Dell Indian journalist is news publisher from desktop. Please contact newsreaders.in@gmail.com or whatsapp +91-9198-624-866 for any issues. Our head office is in Gomtinagar, Lucknow (UP) India.

Related News

Adblock Detected

Please switch off Adblocker first.