Have not entered into any agreement for sale: NDTV tells BSEhttps://indianexpress.com/article/business/ndtv-tells-bse-have-not-entered-into-any-agreement-for-sale-ajay-singh-spicejet-4855945/

Have not entered into any agreement for sale: NDTV tells BSE

A source has confirmed to The Indian Express that details of the NDTV - Ajay Singh deal are being worked out.

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Messages and emails sent to NDTV officials did not elicit any response. In this photo, NDTV founder Prannoy Roy.

NDTV Limited has told the Bombay Stock Exchange that “the promoters of the company have not entered into any agreement for sale of their stake in the Company to any person.” This was in response to a clarification sought by the Bombay Stock Exchange on Friday relating to a report that quoted The Indian Express report that “SpiceJet’s Ajay Singh set to take control of NDTV.

The Indian Express on Friday reported that Ajay Singh, co-founder and owner of SpiceJet, is learnt to have picked up majority holding in the news channel. A source has confirmed to the newspaper that details of the deal are being worked out. These may take some time before the formal announcement, said market experts.

According to the source, Ajay Singh, chairman and managing director for SpiceJet, will have controlling stake in NDTV.

When asked about the NDTV deal on Thursday, a SpiceJet official said “it’s absolutely false and baseless.” Messages and emails sent to NDTV officials did not elicit any response.

On June 5, the CBI conducted searches at the residences of the Roys. Calling the raids a “blatant attack on the freedom of the press,” NDTV, in a statement, said that the CBI had filed its FIR based on a “shoddy complaint” by a “disgruntled” former NDTV consultant who has not obtained a “single order from the courts.”