Adani-led conglomerate step closer to taking over NDTV

New Delhi Television Ltd said founders Radhika Roy and Prannoy Roy had resigned as directors on the board of the promoter group vehicle RRPR Holding Private Ltd.

The resignation comes a day after NDTV said an entity backed by the founders had issued shares to a unit of Adani Group, taking the billionaire Gautam Adani-led conglomerate a step closer to taking over the media firm.

NDTV, founded in 1988 and owned by husband-and-wife team Prannoy Roy and Radhika Roy, had previously said the takeover move “was executed without any input from, conversation with, or consent of the NDTV founders.”

The promoter group vehicle, which owns 29.2% and is the largest shareholder of NDTV, approved the appointment of Sudipta Bhattacharya, Senthil Sinniah Chengalvarayan, Sanjay Pugalia as directors on its board, NDTV said in a regulatory filing.