E-Paper
NDTV promoters seek regulatory clarification on VCPL deal
Adani Enterprises claimed that regulatory restrictions are not applicable to New Delhi Television Ltd's (NDTV) top shareholder RRPR Holding Private Limited owned by founder Radhika and Prannoy Roy and they cannot 'legally' prevent share allotment to Adani Group.
New Delhi Television(NDTV) said early Monday that its promoter group has written to India market regulator asking it to clarify whether the regulator's order in 2020 restricts conversion of warrants issued to Vishvapradhan Commercial Pvt Ltd (VCPL) into equity shares.
Indian billionaire Gautam Adani's conglomerate last week said it was seeking to control a majority stake in NDTV.
Also Read| NDTV seeks to block Adani takeover on regulatory issues
Adani Enterprises had said on Friday that regulatory restrictions are not applicable to New Delhi Television Ltd's (NDTV) top shareholder RRPR Holding Private Limited owned by founder Radhika and Prannoy Roy and they cannot 'legally' prevent share allotment to Adani Group.
On Thursday, NDTV had sought to block billionaire tycoon Gautam Adani's attempt to acquire majority shares in the news network, saying regulatory orders prevent them from transferring shares.
The Roys were prohibited from accessing the securities market in November 2020 as Securities and Exchange Board of India (SEBI) had investigated two separate cases involving loans and insider trading against promoters of NDTV.
