NDTV co-founders Prannoy, Radhika Roy step down as directors of holding firm

The company has appointed Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan as the new directors of the board

Radhika Roy, Prannoy Roy, Adani Group, NDTV, RRPR
NDTV founders Prannoy Roy and Radhika Roy.

New Delhi Television (NDTV) co-founders and promoters Prannoy Roy and wife Radhika Roy have resigned as directors of the Board of RRPR Holding Private Limited, the promoter group vehicle of NDTV, the company informed in a regulatory filing on Tuesday (November 29).

In the filing addressed to the assistant vice president of the National Stock Exchange of India Limited, the company informed that the resignation of the Roys has been accepted by the Board of Directors at a meeting held on Tuesday and approval has been given for the appointment of Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan as the new directors of the board from immediate effect.

Also read: How an unpaid loan helped Adani to make hostile takeover bid for NDTV

“NDTV’s promoter group vehicle RRPRH has approved Prannoy Roy & Radhika Roy’s resignation following a meeting held on November 29,” the statement said.

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RRPR Holding, which holds 29.18 per cent stake in NDTV was recently taken over by industrialist Gautam Adani.

Also read: Adani Group can’t acquire 99.5% stake without SEBI nod: NDTV

In August, Vishvapradhan Commercial Private Limited (VCPL), a subsidiary of AMG Media Networks Limited (AMNL), which in turn is a completely-owned subsidiary of Adani Enterprises Limited (AEL) acquired 99.5 per cent of the equity shares of RRPR after acquiring it. After this the Adani Group offered to acquire another 26 per cent stake in NDTV to increase its share of stake to 55.18 per cent which is just enough to take charge of the TV channel.

The Roys hold a 32.26 per cent stake in NDTV.

Also read: Adani says committed to open offer for NDTV

 

 

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