NDTV says stake sale to Adani needs nod from tax authorities

MUMBAI -New Delhi Television Ltd NSE 4.99 % said a major stake sale by its founders to Adani group would require clearance from India’s tax authorities, adding another hurdle to the conglomerate’s bid to take control of the popular news network.

The income tax department in 2017 provisionally barred the founders – Prannoy and Radhika Roy – from selling a part of their stake as part of a reassessment of their taxes, NDTV said in an exchange filing late on Wednesday .