NDTV promoter entity RRPR Holding Private Ltd. and Adani Enterprises’ indirect subsidiary Vishvapradhan Commercial Private Ltd. (VCPL) have written to markets regulator SEBI seeking clarification on whether any regulatory restrictions prohibit the news network’s founders from selling a majority stake to Adani Enterprises.
RRPR Holding Private Ltd, the promoter group company of NDTV Ltd. and Vishvapradhan Commercial Private Ltd (VCPL), the wholly owned subsidiary of AMG Media Network Ltd of Adani Enterprises Ltd (AEL) have separately reached out to market regulator the Securities & Exchange Board of India (SEBI) seeking clarity on the takeover bid.
“VCPL has received a reply on behalf of RRPR whereby RRPR has reiterated that Mr. Prannoy Roy and Mrs. Radhika Roy [the network’s founders] are prohibited by SEBI, vide its order dated November 27, 2020, from accessing the securities market for a period of two years,” AEL said in a filing with stock exchanges.
