Trinamool Congress MP and industrialist Kanwar Deep K D Singh,the majority stakeholder in Tehelka through direct and indirect holdings,has decided to exit the venture.
Speaking to The Indian Express,Singh said,We had around 65 per cent stake in Tehelka to begin with. We are going to exit the venture completely. In the past one year,we have divested around 20 per cent of it.
Stating that he was a mere investor,Singh said he was worried about what has happened to Brand Tehelka,and would decide on the exit strategy in the next few days. I have nothing to do with the affairs or management of Tehelka. I do not even know where its office is, he said.
Describing Tehelka founder and editor-in-chief Tarun Tejpal as a personal friend,Singh said he had not spoken to him yet. I can say thats not the Tarun I know,and Tehelka could have handled this matter better.
Tejpals family owns a 19 per cent stake in the magazine.