TV9 former CEO Ravi Prakash moves tribunal to buy majority stake in company

V Ravi Prakash, former chief executive officer of popular multilingual television channel TV9, on Monday moved the National Company Law Tribunal (NCLT) in Hyderabad seeking to take over the channel management – Associated Broadcasting Company Private Limited (ABCL) by buying majority stake in it.

Ravi Prakash, who was founder-director of ABCL was sacked as director and CEO on May 10 last year for allegedly cheating the company promoters.

The company, which was originally promoted by Srini Raju of iLabs, was acquired by Alanda Media and Entertainment Limited, jointly promoted by real estate major My Home Group and construction giant Megha Engineering and Infrastructure Limited (MEIL) which bought 90.54% of shares.