NDTV says exercise of rights by VCPL done without NDTV founders’ consent

New Delhi: In a curious turn of events, NDTV has said that without any discussion with the New Delhi Television Limited (NDTV) or its founder-promoters, a notice has been served upon them by Vishvapradhan Commercial Private Limited (VCPL), stating that it (VCPL) has exercised its rights to acquire 99.50 percent control of RRPR Holding Private Limited (RRPRH), the promoter-owned company that owns 29.18 percent of NDTV.

“The NDTV founders and the company would like to make it clear that this exercise of rights by VCPL was executed without any input from, conversation with, or consent of the NDTV founders, who, like NDTV, have been made aware of this exercise of rights only today.