Amid the takeover process of NDTV by the Adani Group, senior journalist Ravish Kumar quit the media giant on Wednesday, effective immediately.
This comes a day after the founders of the channel, Prannoy Roy and Radhika Roy resigned from the Board of Directors of the RRPR Holding Pvt Ltd (RRPRH).
NDTV informed via an internal mail that the senior journalists’ resignation was effective immediately. This effectively means that the takeover bid by Gautam Adani led Adani Group of New Delhi Television Ltd is nearing completion.
Meanwhile, the board has appointed Sanjay Pugalia and Senthil Chengalvarayan as directors of RRPRH board with immediate effect.
It may be noted that the transfer of shares will hand Adani group control over 29.18 per cent stake in the media company. Adani Group is also conducting an open offer for another 26 per cent stake, making them majority shareholders.
The open offer began on November 22 and has so seen shareholders tender 5.3 million shares, equaling 31.78 per cent of the issue size of 16.7 million shares, according to exchange data.
Ravish Kumar had joined NDTV in 1996 and leaves after garnering a stellar reputation as one of the top journalists in the country. His association with NDTV lasted for over two decades.
