Senior journalist Ravish Kumar quit NDTV, a day after the channel’s founders Prannoy Roy and Radhika Roy tendered their resignation as directors on the board of RRPR Holding Private Limited (RRPRH).
In an announcement made through an internal mail within the channel, NDTV said that the resignation was effective immediately.
A day earlier on Tuesday, the new NDTV board approved the resignations of Prannoy Roy and Radhika Roy as directors of RRPR Holding Private Ltd (RRPR), the promoter group vehicle of New Delhi Television Ltd (NDTV).
This means that the existing and longstanding promoters and management of NDTV has exited the company. The Adani group takeover is thus complete.
The board also appointed Sanjay Pugalia and Senthil Chengalvarayan as directors on RRPRH board with immediate effect.
The transfer of shares will give the Adani group control over a 29.18 per cent stake in NDTV. The diversified conglomerate is also conducting an open offer for another 26 per cent stake in the media firm. The open offer, which began on November 22, has seen shareholders tender 5.3 million shares, or 31.78 per cent of the issue size of 16.7 million shares, so far, the exchange data showed.