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NDTV denies allegation of being controlled by the Ambani Group

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NDTV denies allegation of being controlled by the Ambani Group

A recently published media report questions the ownership of NDTV. The article titled ‘Who really owns NDTV’ says, “In 2009, a Mukesh Ambani group entity took control of NDTV under the guise of a loan agreement. The plan was to find a buyer in three to five years. No buyer has been found so far and effectively, NDTV is controlled by Ambanis.”

In  response to the report, a statement was released to the Bombay Stock Exchange by NDTV and it states there has been no change in the ownership of the network.

Below is the text of the statement:

“We have examined the factual position and would like to inform you that that there has been no change (actual or effective) in the control/ ownership of NDTV. The Promoters, i.e. Dr. Prannoy Roy, Mrs. Radhika Roy and RRPR Private Limited ("RRPR"), continue to hold the majority shareholding of NDTV which amounts to 61.45% of the total shareholding of NDTV. There has been no change in the above shareholding since August 2008. Further, Dr. Prannoy Roy and Mrs. Radhika Roy continue to hold the entire shareholding of RRPR since its incorporation.

Further, there has been no change in the exercise of voting rights by the Promoters with respect to their shareholding in NDTV. According to the records of NDTV, the voting rights in connection with the shares have throughout been exercised by the Promoters in the case of Dr. Prannoy Roy, Mrs. Radhika Roy and RRPR.

Therefore, NDTV would like to clarify that the allegations raised in the article with respect to a change in the control/ ownership of NDTV are entirely without any merit. NDTV is mindful of its obligations under Clause 36 of the Listing Agreement and shall promptly intimate you of any event required of in terms of the Listing Agreement."

Tags NDTV Mukesh Ambani BSE Prannoy Roy

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