Ravish Kumar, a senior journalist has resigned from NDTV according to news sources. This comes just a day after the channel’s founders and promoters Prannoy Roy and Radhika Roy resigned from their positions as directors on the board of RRPR Holding Private Limited (RRPRH). In an announcement through an internal mail within the channel as reported by several news agencies, NDTV said that the resignation was effective immediately.
Few journalists have had the same kind of an influence on people as Ravish, according to Suparna Singh, president of the NDTV Group, said in the internal email. This is evident from the positive response he has received, the large crowds he attracts everywhere, the major honours and accolades he has won both domestically and abroad, and his daily reports, which defend the rights and needs of the underserved. According to Suparna, Ravish has been a crucial component of NDTV for many years. She continued, We know he will be extremely successful as he starts on a new beginning.
The Ramon Magsaysay Award recipient Kumar previously hosted a variety of shows, including the channel’s flagship daily programme Hum Log, Ravish ki Report, Des Ki Baat and Prime Time. Additionally, he has twice received the Ramnath Goenka Excellence in Journalism Award.
Video Courtesy: HW News
The company disclosed in a regulatory filing on Tuesday that Prannoy Roy and his wife Radhika Roy had just resigned as Directors on the Board of RRPR Holding Private Limited. Sudipta Bhattacharya, Sanjay Pugalia, and Senthil Sinniah Chengalvarayan have been appointed as Directors on the board of RRPR Holding with immediate effect.The senior jounalists resignation come after the news channel was acquired by the Adani Group, and holds 29.18% stake in the news channel.
In August, the Adani group acquired VCPL and attempted to convert the warrants into shares. Promoters for NDTV initially opposed, claiming they had not been notified, but earlier this week they gave in and permitted the change, which resulted in VCPL owning 99.5% of RRPR Holding.
The Roys stepped down as RRPR Holdings’ directors when the Adani group-controlled entity VCPL took a firm hold of the company. Up until this point, RRPR, or Radhika Roy Prannoy Roy Holdings Private Limited, was categorised as a promoter entity. It owned a stake of 29.18% in the news station. Prannoy Roy and Radhika Roy each own 15.94% and 16.32% of NDTV, respectively (together 32.26 per cent).After purchasing VCPL, the Adani group announced an open offer to buy a 26% interest in NDTV. This promotion started on November 22 and ends on December 5. The offer has so far got offers for 53.27 lakh shares or a third of the entire open offer size. This despite the deep discount of the open offer price in comparison to the current stock levels. In contrast to the Adani Group’s open offer price of Rs 294 per share, NDTV stock is currently trading 5% higher on the BSE at Rs 447.70.The ports-to-energy giant is asking NDTV’s minority investors for up to 1.67 crore shares, or 26% of equity. If the open bid is successful, Adani group will have a controlling ownership of little over 55% and may then try to remove Roys from the channel’s board.Pugalia is the chief executive officer and editor-in-chief of media initiatives at Adani Group.
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