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NDTV Denies Reports Of Takeover SpiceJet Owner Ajay Singh, Tells BSE 'No Agreement'

It was earlier reported that Singh, who was part of the BJP’s 2014 poll campaign, has picked up majority holding in the news channel.

NDTV Denies Reports Of Takeover SpiceJet Owner Ajay Singh, Tells BSE 'No Agreement'
NDTV Denies Reports Of Takeover SpiceJet Owner Ajay Singh, Tells BSE 'No Agreement'
outlookindia.com
2017-09-22T14:42:57+05:30

NDTV has denied reports that said Ajay Singh, owner of SpiceJet, has picked up majority holdings in the news channel in a statement to the Bombay Stock Exchange. 

It was earlier reported that Singh, who was part of the BJP’s 2014 poll campaign, has picked up majority holding in the news channel. NDTV clarified to the BSE that the company has not entered into any agreement for sale of stake. 

"With reference to your letter seeking clarification on the news item... we wish to inform you that the promoters of the Company have not entered into any agreement for sale of their stake in the Company to any person," the company has told the BSE. 

"The Company is mindful of its obligations under Clause 30 of the Listing Regulations and shall promptly intimate you of any event required which is required to be disclosed under the said Regulations," it added. 

It was said that Singh will take over the news channel along with the editorial rights.

Singh has been a vital part of BJP's 2014 Lok sabha election campaign. He is said to have coined the campaign slogan, “Abki baar Modi sarkar”, reported Hindustan Times.

Singh had been an officer on special duty to late Pramod Mahajan during the first NDA government and was an important cog in the BJP’s advertising/campaigning team.

On June 5, CBI had carried out searches at the residence of NDTV founder Prannoy Roy in New Delhi and in Dehradun for allegedly causing loss to a private bank.

The agency registered a case against Roy, his wife Radhika and RRPR Holdings for allegedly causing a loss of Rs 48 crore to ICICI Bank, CBI sources said.

Searches were carried out at four places in the national capital and Dehradun.

In a statement on the CBI action, the channel had said ruling party politicians could not "stomach" the "independence and fearlessness" of NDTV's team.

"The CBI raid is merely another attempt at silencing the media," it said.

In July, the Income Tax Appellate Tribunal (ITAT) held  NDTV  founder Prannoy Roy responsible for laundering Rs 642 crore and stated that the Ministry of Corporate Affairs helped the owners of the news channel in hiding financial information of the foreign shell companies in 2009.

The companies were floated and used for money laundering. The order stated that NDTV and its promoters laundered Rs. 1,100 crore of black money during 2007-08 to 2009-10 out of which  black money worth Rs 642.54 crore has been confirmed by the ITAT.

 

 

 

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