NDTV co-founder Prannoy Roy, wife steps down as NDTV directors : Senior journalist Ravish Kumar resigns from NDTV

 As per the reports, the news channel is said to have announced his resignation through an internal communication on Wednesday

Prannoy Roy, Radhika Roy and Ravish Kumar

ANI, IANS, 30 November, 2022, New Delhi : Senior journalist Ravish Kumar has resigned from his post as senior executive editor at NDTV India, according to reports. 

As per the reports, the news channel is said to have announced his resignation through an internal communication on Wednesday. 

The Ramon Magasaysay award-winning news anchor used to host the popular programmes Prime Time, Ravish Ki Report, Hum Log and Desh Ki Baat. NDTV said that his resignation came into effect immediately, sources said." Senior journalist Ravish Kumar has resigned from his post as senior executive editor at NDTV India, according to reports.

"Few journalists have impacted people as much as Ravish,\" reports quoting the internal communication said.

The resignation came a day after the new NDTV board approved the resignations of founders Prannoy Roy and Radhika Roy (RRPR) as directors of RRPR Holding Private Ltd , the promoter group vehicle of NDTV. This meant that the existing and longstanding promoters and management of NDTV has now exited the company.

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. Prannoy Roy and his wife Radhika Roy, founders and promoters of channel New Delhi Television (NDTV), resigned as directors on the Board of RRPR Holding Private Limited, a promoter group vehicle of NDTV, the company said in a regulatory filing to the stock exchanges on Tuesday.

RRPR Holding, the promoter group vehicle of NDTV, holds 29.18 per cent stake in NDTV, which is being taken over by the Adani group, owned by businessman Gautam Adani.

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

“RRPRH has approved Sudipta Bhattacharya, Sanjay Pugalia & Senthil Sinniah Chengalvarayan as new directors on Board with immediate effect,” the statement added.

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. (ANI)