Adani Group claims SEBI curbs unlikely to affect its buying of NDTV shares
text_fields
New Delhi: The Adani Group which is eyeing the NDTV news channel to make it a part of its business, said that the stock regulator's restrictions on the channel's founders are unlikely to affect the Group from buying majority shares.
There were reports the business tycoon had acquired 29 per cent of shares of a company which is linked to the NDTV news channel.
As the move raised concerns among the votaries of free journalism, the NDTV founders, Prannoy and Radhika Roy, who hold about 60 per cent share in the news networks said that the Adani conglomerate could not acquire share without approval from the Securities and Exchange Board of India (SEBI).
Reacting to this, the Adani Group claimed that the SEBI restrictions on the founders will not have an effect on its buying the shares of NDTV's top shareholder.
In 2020, the SEBI barred Prannoy and Radhika Roy from buying or selling shares in India's securities market.
On Friday, Adani Enterprises argued in a statement that NDTV's top shareholder, an investment vehicle which is held by the Roys and which is the subject of the Adani bid, was not covered by the SEBI order, meaning the takeover offer can proceed without specific SEBI approval.
