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Prannoy, Radhika Roy resign from NDTV Board

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NDTV said in an exchange filing that the board of RRPR Holding has approved the appointment of Sudipta Bhattacharya, Sanjay Puglia and Senthil Sinnaih Chengalvarayan to the board of directors with immediate effect.

Prannoy Roy and Radhika Roy, founders and promoters of channel New Delhi Television (NDTV), have resigned as directors on the board of RRPR Holding Pvt Ltd (RRPRH) with effect from November 29, the company said in a regulatory filing on Tuesday.

NDTV’s promoter group vehicle RRPL Holding holds 29.18 per cent stake in NDTV, which is being acquired by the Adani Group.

NDTV said in an exchange filing that the board of RRPR Holding has approved the appointment of Sudipta Bhattacharya, Sanjay Puglia and Senthil Sinnaih Chengalvarayan to the board of directors with immediate effect.

The Adanis which acquired the 29.18 per cent stake in NDTV have come out with an open offer to buy another 26 per cent from the public.

According to the BSE website, Prannoy Roy is the chairperson of NDTV and Radhika Roy is the executive director.

Adani got full control of RRPL in August this year. If Adani is successful in getting the required 26 per cent stake, the group’s total holding will go up to 55.18 per cent, which will enable it to take over management control of NDTV. The Roy family holds 32.26 per cent stake in NDTV.

Prannoy, Radhika Roy resign from NDTV Board

source-indianexpress.com