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NDTV sold, says report

NDTV Limited replied to a clarification sought by Bombay Stock Exchange asserting that "the promoters of the company have not entered into any agreement for sale of their stake in the Company to any person."

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NDTV sold, says report
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Reports in a section of the media on Friday said beleaguered news company NDTV has been bought by Ajay Singh, co-founder and owner of SpiceJet. The report resulted in a sharp spike in the share price of the listed company, which is facing multiple inquiries for alleged violation of various laws.

However, the company issued a statement to the Bombay Stock Exchange, denying any such development.

However, despite the denial, the speculation about the company refused to die down.

NDTV Limited replied to a clarification sought by Bombay Stock Exchange asserting that "the promoters of the company have not entered into any agreement for sale of their stake in the Company to any person."

It was reported that Ajay Singh had picked up majority holding in the news channel. Reports stated that Singh would also get editorial control. Following the reports, BSE had early in the day on Friday sough clarification on NDTV on the buyout deal.

An official communication sent to BSE by NDTV's Company Secretary Navneet Raghuvanshi reads, "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 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," the letter added.

NDTV's founders Prannoy Roy, Radhika Roy and promoter firm RRPR Holding Pvt Ltd are facing a CBI probe for allegedly concealing a share transaction. On June 5, the CBI conducted searches at the residences of the Roys.

The company is also facing proceedings from tax authorities.

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