Prannoy Roy and wife Radhika Roy, founders and promoters of channel New Delhi Television (NDTV), have resigned as Directors on the Board of RRPR Holding Private Limited (RRPRH) with effect from November 29, the company said in a regulatory filing on Tuesday.
RRPL Holding, the promoter group vehicle of NDTV, holds 29.18 per cent stake in NDTV, which is being taken over by the Adani group.
The board of RRPR Holding has approved the appointment of Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan as Directors on its board with immediate effect, NDTV said in an exchange filing.
The Adanis which acquired the 29.18 per cent stake in NDTV has come out with an open offer to buy another 26 per cent from the public.
According to the BSE website, Prannoy Roy is the Chairperson of NDTV and Radhika Roy is an Executive Director.
The Adanis got full control over RRPL in August this year. If the Adanis manage to get the required 26 per cent stake, the group’s total stake will go up to 55.18 per cent, enabling it to take management control of NDTV. The Roys hold a 32.26 per cent stake in NDTV.