New Delhi Television Ltd (NDTV) on November 29 said that its promoter entity RRPR Holding Pvt Ltd has approved the resignation of Radhika Roy and Prannoy Roy as directors on the firm's board.
The board has also approved the appointment of Sudipta Bhattacharya, Sanjay Pugalia and Senthil Chengalvarayan as directors on board of RRPRH with immediate effect.
The conglomerate, run by India's richest man Gautam Adani, in August acquired a little-known company that lent over Rs 400 crore to NDTV's founders more than a decade ago in exchange for warrants that allowed the company to acquire a stake of 29.18 per cent in the newsgroup at any time.
Post that, VCPL - the firm that the Adani group bought out - announced that it would launch an open offer on October 17 to buy an additional 26 per cent stake from minority shareholders of NDTV. However, the offer was delayed since Sebi had not given its approval to the open offer.
VCPL along with AMG Media Networks and Adani Enterprises Ltd had proposed to acquire an additional 26 per cent or 1.67 crore equity shares at an offer price of Rs 294 per share.
Who are Sudipta Bhattacharya, Sanjay Pugalia and Senthil Chengalvarayan?
Sudipta Bhattacharya is the CEO for the Adani Group - North America. He is also the Chief Technology Officer (CTO) of the Group. Prior to his current roles he has also held the positions of CEO Adani Ports and SEZ (APSEZ) and Chief Strategy Officer for the Group. Before joining the Adani Group he was the CEO of the Invensys' Safety and Control and Software business. Prior to Invensys he was the Senior Vice President for SAP's Supply Chain Management, Manufacturing and Engineering product portfolio. He has also worked for 10 years for the Tata Group in India managing chemical plant operations, engineering projects and supply chain operations.
Sanjay Pugalia is a veteran Indian political and business journalist with print and broadcast experience. Pugalia was a part of several pioneering news ventures in India. He launched and headed CNBC-Awaaz for 12 years. Earlier, as news director, he set up Star News in Hindi, headed Zee News and was part of the founding team of AajTak.
Senthil Chengalvarayan, is a trusted name in Indian business journalism. He has over 35 years of experience. Chengalvarayan was the founding editor of CNBC TV18 and then the Editor-in-Chief of Network 18’s Business News Room.
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