Hindi news channel Live India has a new ownership structure, as its present owner HDIL has decided to sell the channel to Prosperity Agro, previously known as Samruddha Jeevan.
The terms of the deal and the effective date of when the new ownership comes into effect were not available at the time of filing the report.
HDIL is part of Wadhawan Group which has been involved in real estate development in Mumbai for three decades. HDIL's promoters are Rakesh Kumar Wadhawan and Sarang Wadhawan. Sarang Wadhawan is the Managing Director of the company.
Live India was launched by Sri Adhikari Brothers’ company Broadcast Initiative as Janmat in 2006. The company also launched Marathi channel Mi Marathi, which too is part of this deal. In 2008, HDIL Infra Projects made an offer to buy Live India from Broadcast Initiatives to eventually own the channel. It is understood that now the channel is in the process of being sold to Mahesh Motewar, who owns Prosperity Agro and runs the company as its Chairman and Managing Director.
Mahesh Motewar has still not responded to exchange4media’s queries on the subject.
Prosperity Agro India was registered in its current name on Feb 5, 2010 under Companies Act, 1956 with the Registrar of Companies, Pune. The company at present is engaged in the business of rearing and breeding of livestock. Its projects are on-ground in various markets including Valsad in Gujrat and Vijapur in Karnataka, amongst others. The company also has plans to expand its business activities into producing food grains, cereals, seeds oil, seeds, plants, flowers, vegetables, fruits, spices, herbs, edible oil and food products.