Senior journalist Ravish Kumar resigns from NDTV

Ravish Kumar
Ravish Kumar

Ravish Kumar, Senior Executive Editor at NDTV India, resigned on Wednesday “with immediate effect” after Prannoy Roy and Radhika Roy resigned as directors of NDTV promoter RRPR Holding Private Limited.

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According to an internal mail, the resignation takes effect immediately. There are few journalists who have impacted people as much as Ravish. A mail read, “This is reflected in the vast amount of feedback he receives about himself – in the crowds he draws everywhere; in the prestigious awards and recognition he has received, both within India and around the world.” A mail read, “Ravi has been an integral part of NDTV for decades, and we know he will be successful as he embarks on a new beginning.”

Adani launched an open offer on November 22 to acquire an additional 26 percent stake in the company, which ends on December 5.

Since 1996, Kumar has been associated with New Delhi Television Network (NDTV). On NDTV India, he hosted several news-based shows such as Hum Log, Ravish ki Report, Des Ki Baat, and Prime Time. As well as the Ramon Magsaysay Award in 2019, Kumar has won the Ramnath Goenka Excellence in Journalism Award twice.

“We know he will be successful as he embarks on a new beginning,” Suparna said, adding that Ravish has been an integral part of NDTV for decades.

He hosted a number of programs for the channel, including Hum Log, Ravish ki Report, Des Ki Baat, and Prime Time. In addition, he has twice been awarded the Ramnath Goenka Excellence in Journalism Award.

According to the company’s regulatory filing on Tuesday, Prannoy Roy and his wife Radhika Roy resigned as Directors of RRPR Holding Private Limited yesterday. Sudipta Bhattacharya, Sanjay Pugalia, and Senthil Sinniah Chengalvarayan have been appointed Directors on the board of RRPR Holding with immediate effect.

After the Adani Group acquired the news channel, the senior journalist resigned.

The Adani group bought VCPL in August and sought to convert the warrants into shares. Promoters of NDTV initially opposed the conversion, saying they weren’t consulted, but earlier this week relented and allowed it, giving VCPL a 99.5% stake in RRPR Holding.

Following the Adani Group’s acquisition of VCPL, the Roys resigned as directors of RRPR Holdings.

Up until now, Radhika Roy Prannoy Roy Holdings Private Limited was classified as a promoter company. The company owned 29.18 percent of the news channel. A total of 32.26 percent of NDTV is owned by Prannoy Roy and Radhika Roy (together 15.94 percent).

As a result of its acquisition of VCPL, Adani Group launched an open offer to acquire a 26 percent stake in NDTV. The offer opened on November 22 and will close on December 5.

So far, 53.27 lakh shares have been offered or a third of the total open offer. Despite the deep discount between the open offer price and the current stock price.

As opposed to Adani group’s open offer price of Rs 294 apiece, NDTV stock is up 5 per cent at Rs 447.70 on BSE.

It is seeking 1.67 crore shares or 26 percent of equity from NDTV’s minority investors.

As a result of the open offer, Adani group will hold just over 55 percent of the channel’s shares, and it may seek to oust Roys from the board. Adani Group’s chief executive and editor-in-chief is Pugalia.

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