New NDTV board approves Prannoy Roy & Radhika Roy’s resignation as RRPR directors

New Delhi : In a dramatic late night development on Tuesday, the new NDTV board approved the resignations of Prannoy Roy and Radhika Roy as directors of RRPR Holding Private Ltd (RRPR), the promoter group vehicle of New Delhi Television Ltd (NDTV).

This means that the existing and longstanding promoters and management of NDTV has exited the company. The Adani group takeover is thus complete.

The board also appointed Sanjay Pugalia and Senthil Chengalvarayan as directors on RRPRH board with immediate effect.

It needs to be mentioned that NDTV’s promoter firm RRPR Holding had on Monday stated that it had transferred shares constituting 99.5 per cent of its equity capital to Adani group-owned Vishvapradhan Commercial (VCPL), thus completing the official takeover of NDTV by the Adani group.

The transfer of shares will give the Adani group control over a 29.18 per cent stake in NDTV. The diversified conglomerate is also conducting an open offer for another 26 per cent stake in the media firm. The open offer, which began on November 22, has seen shareholders tender 5.3 million shares, or 31.78 per cent of the issue size of 16.7 million shares, so far, the exchange data showed.

–IANS

 

Amul hikes milk price by Rs 3/litre for Delhi, Maha & Kolkata consumers

Ahmedabad:  Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) has increased prices of Amul pouch milk (all variants) by Rs 3 per litre with immediate effect. The price has been increased...

Adani imbroglio: MVA, locals worry over fate of mega Dharavi revamp project

Mumbai, Feb 2 (IANS) As the Adani Group battles its current crisis on multiple fronts, the Maharashtra Congress, Shiv Sena (UBT) and residents of Dharavi on Thursday raised questions over the...

Adani Enterprises calls off Rs 20K cr FPO, to return money to investors

  New Delhi: Hours after its shares crashed at the bourses, the Adani Group on Wednesday evening decided to call off its Rs 20,000 crore follow-on public offer (FPO), saying...

Narrower-deficit forecast in Budget underscores govt’s long-term fiscal sustainability: Moody’s

New Delhi: Global ratings agency Moody's Investors Service said on Wednesday that the narrower fiscal deficit forecast in the Union Budget for 2023-24 underscores the government's commitment to longer-term fiscal...

EVs to get cheaper, Centre proposes Customs duty exemption on batteries

New Delhi: The Central government on Wednesday said that to further provide impetus to green mobility, Customs duty exemption is being extended to the import of capital goods and machinery...

Budget cuts MGNREGA allocation by 30% to Rs 61,032 crore for 2023-24

New Delhi:  The government has slashed the budgetary allocation for rural job guarantee scheme, the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) by 30 per cent to Rs 61,032.65...

Mixed response to Budget 2023-24 at the bourses

Mumbai:  The Indian stock markets on Wednesday opened on a positive note and went up after Finance Minister Nirmala Sitharaman presented the Union Budget for FY24 but then came down....

New tax regime may not be necessarily beneficial for all taxpayers: Experts

New Delhi: The new tax regime (NTR) will now be considered as a default regime, but it may not necessarily be a better option for all the taxpayers, experts said....

Budget: BJP has cheated the people of Bihar again, says Tejaswi

  Patna: Bihar Deputy Chief Minister Tejashwi Yadav on Wednesday that the BJP has cheated the people of Bihar again through the Union Budget 2023-24. He also said that the...

‘Step-motherly treatment to Delhi yet again’: Kejriwal slams Budget

New Delhi: Delhiites have been meted out "step-motherly treatment yet again", Chief Minister Arvind Kejriwal said while reacting to the Union Budget 2023-24 presented by Finance Minister Nirmala Sitharaman on...

Insurance policies where premium is above Rs 5L no more tax exempt

  New Delhi: Insurance policies where the premium is over Rs 5 lakh will no longer be tax exempt, as per the provisions in the Union Budget 2023-24. Kapil Mehta,...

Economic growth to slide to 7% in 2022-23 against 8.7% in 2021-22: Fiscal policy statement

New Delhi : Economic growth is expected to slide in the current fiscal, even as India is among the bright spots in the prevailing global scenario marred by fluid geopolitical...

Read Previous

Singer Daler Mehndi’s farmhouse among three sealed in Gurugram

Read Next

6 killed, 15 injured in bus-truck collision in UP district

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By : XYZScripts.com