Sorry! There were some factual errors in the last post - regarding the details of financial transactions, but *not in the reading of the implications.*
Hence, the last post stands superseded with the following one. Sukla <<In 2009, it [VCPL] had offered an unsecured loan of Rs 403.85 crore to Radhika Roy Prannoy Roy Private Limited [RRPRPL], an entity that held a 29% share of NDTV. ... The records also suggest NDTV never returned the loan it took from Vishvapradhan. Not that it would have mattered. The terms of the loan agreement were such that Vishvapradhan, as Caravan reported in 2015, could convert it into 99.9% of the shares in Radhika Roy Prannoy Roy Private Limited “at any time during the tenure of the loan or thereafter without requiring any further act or deed on the part of the lender”. This is what happened on Tuesday. ... The Roys still hold 32.27% stake in NDTV – more than the Adani Group. But this could change soon. According to a report in the Indian Express, LTS Investment Fund, which owns shares in several Adani companies, also controls 9.75% stake in NDTV. Another four shareholders of NDTV collectively own 7.11% stake. “If these two sets of investors sell their shares in the open offer, it would take Adani Group’s shareholding in NDTV to over 46 per cent,” Indian Express reported. Simply put, Gautam Adani on Tuesday acquired a company, originally owned by his rival Mukesh Ambani and then controlled by one of his close aides for a decade, to make a hostile takeover of India’s arguably most credible television news channel, one that Modi has not engaged with since he became the prime minister.>> (Excerpted from: < https://scroll.in/article/1031159/how-adani-acquired-a-company-controlled-by-an-ambani-aide-to-take-over-ndtv >.) The implications of and the intent underlying this takeover, given that (i) the NDTV is virtually the only mainstream TV channel that doesn't blindly and blatantly toe the line of the Modi regime and (ii) the Adani group is very much the most favoured, to put it rather mildly, corporate group of the incumbent regime, must be all too evident. (In the above context, one may refer to just two, not-too-old, news clippings: I. < https://m.economictimes.com/news/politics-and-nation/ndtv-founders-detained-at-city-airport-roys-say-fake-case/articleshow/70609683.cms >. II. < https://www.adaniwatch.org/explosive_allegations_about_adani_and_the_pms_of_india_and_sri_lanka >.) <<Without any discussion with New Delhi Television Limited (NDTV) or its founder-promoters, Radhika and Prannoy Roy, a notice was served upon them by Vishvapradhan Commercial Private Limited (VCPL) stating that it (VCPL) has acquired control of RRPR Holding Private Limited (RRPRH). This entity owns 29.18% of NDTV. It has been given two days to transfer all its equity shares to VCPL. VCPL has exercised its rights based on a loan agreement it entered with NDTV founders Radhika and Prannoy Roy in 2009-10. The NDTV founders and the Company would like to make it clear that this exercise of rights by VCPL was executed without any input from, conversation with, or consent of the NDTV founders, who, like NDTV, have been made aware of this exercise of rights only today. As recently as yesterday, NDTV had informed the stock exchanges that there was no change in the shareholding of its founders. NDTV has never compromised on the heart of its operations - its journalism. We continue to proudly stand by that journalism.>> (Excerpted from: < https://www.ndtv.com/communication/29-of-ndtv-acquired-without-discussion-consent-or-notice-3279896 >.) On Wed, Aug 24, 2022, 08:57 Sukla Sen <[email protected]> wrote: > > *The NDTV had taken loan from the RRPR Holding Private Limited (RRPRH). > *The loan agreement - made in 2009-10, provides that in case of > non-repayment of the loan amount, it would convert into equity shares of > the NDTV. Thus the RRPRH owns 29.18% shares of the NDTV. > *Now, the Adani group, via an enterprise controlled by it - the VCPL, has > purchased the RRPRH. > *The VCPL, now, has, all of a sudden, served a notice to the NDTV to > transfer the 29.18% shares to the VCPL - controlled by the Adani group, > within two days. > > That's how it looks like right at this moment. > > The implications of and the intent underlying this takeover, given that > (i) the NDTV is virtually the only mainstream TV channel that doesn't > blindly and blatantly toe the line of the Modi regime and (ii) the Adani > group is very much the most favoured, to put it rather mildly, corporate > group of the incumbent regime, must be all too evident. > (In the above context, one may refer to just two, not-too-old, news > clippings: > I. < > https://m.economictimes.com/news/politics-and-nation/ndtv-founders-detained-at-city-airport-roys-say-fake-case/articleshow/70609683.cms > >. > II. < > https://www.adaniwatch.org/explosive_allegations_about_adani_and_the_pms_of_india_and_sri_lanka > >.) > > <<Without any discussion with New Delhi Television Limited (NDTV) or its > founder-promoters, Radhika and Prannoy Roy, a notice was served upon them > by Vishvapradhan Commercial Private Limited (VCPL) stating that it (VCPL) > has acquired control of RRPR Holding Private Limited (RRPRH). This entity > owns 29.18% of NDTV. It has been given two days to transfer all its equity > shares to VCPL. > VCPL has exercised its rights based on a loan agreement it entered with > NDTV founders Radhika and Prannoy Roy in 2009-10. > > The NDTV founders and the Company would like to make it clear that this > exercise of rights by VCPL was executed without any input from, > conversation with, or consent of the NDTV founders, who, like NDTV, have > been made aware of this exercise of rights only today. As recently as > yesterday, NDTV had informed the stock exchanges that there was no change > in the shareholding of its founders. > > NDTV has never compromised on the heart of its operations - its > journalism. We continue to proudly stand by that journalism.>> > > (Excerpted from: < > https://www.ndtv.com/communication/29-of-ndtv-acquired-without-discussion-consent-or-notice-3279896 > >.) > -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web, visit https://groups.google.com/d/msgid/greenyouth/CACEsOZi19qSzOGhmbQ9Vs%2BvoWoBmzH0uWzzU1pQ8k57416z_1Q%40mail.gmail.com.
