What is the argument of the founders?
The founders of NDTV argue that since the ban is still in place. Therefore, the exercise of the option to convert the warrant into equity for VCPL requires approval from SEBI. These warrants are convertible. These were issued against loans. Both the parties have approached SEBI. Asked him to clarify things. Therefore, the comment of the regulator will be important in this whole matter.
ndtv income tax connection
After this NDTV has introduced another hurdle. Late on Wednesday night, he referred to the Income Tax Department. He told that the stake of Radhika Roy and Prannoy Roy in NDTV has been temporarily attached by the Income Tax Department. The approval of the department is necessary for his transfer. This argument has been rejected by the Adani Group. It has been described as ‘wrong’ and ‘misleading’. The group has asked RRPR Holding to convert the warrant into equity shares.
What is Adani Group saying?
Adani Group has alleged that all this is being done with the intention of converting warrants into shares and delaying the fulfillment of its obligations. The group said that RRPR Holding’s letter lacked authenticity. It has no basis under the law. In fact it is written with the wrong intention. Experts believe that NDTV’s efforts can avert the acquisition. But, it is difficult to stop it from going into the hands of Adani.
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