Roys says Adani needs IT approval for the conversion of warrants into stake in NDTV

NEW DELHI: After reaching out to the market regulator SEBI for clarification regarding a 2020 order, NDTV founders Radhika and Prannoy Roy have now said that the Adani Group-owned Vishvapradhan Commercial Private Limited (VCPL) requires approval from the Income Tax authorities for exercising their right to convert the warrants that would result in the acquisition of a 29% stake in the media outlet. This comes as NDTV promoters continue to delay Adani Group’s hostile takeover.