TV9 deal: Srini Raju agrees to pay Rs 65 crore to SAIF Fund

HYDERABAD: Venture capitalist Srini Raju has inked a settlement deal with a fund of SAIF Partners that wanted courts to prevent Raju and his associates from selling broadcast media platform TV9 to a Hyderabad-based consortium.

On Monday, Raju and associates filed a compromise petition before the National Company Law Tribunal (NCLT), agreeing to pay around Rs 65 crore to the fund of SAIF Partners. In return, the fund agreed to withdraw a contempt petition against Raju and associates within 10 days of receiving the payment.