Legal scenario of NDTV stake purchase by Adani
The buzzing news that NDTV stake was acquired by Adani group is making story these days. The most cruicial entity is Vishvapradhan Commercial Private Limited known as VCPL as it holds warrants of RRPR Holding Private Limited and is entitled, to convert them into 99.99% stake. VCPL has exercised warrants to acquire 99.5% stake in RRPR. Such acquisition will result in VCPL acquiring control of RRPR(believed to be named after fouder Radhika Roy and Prannay Roy) is a promoter of NDTV and holds 29.18% stake in NDTV. In past RRPR holdings pvt ltd had taken a loan from VCPL which was interest free, but it had a condition wherein they had issued the warrants, through which VCPL had the right to convert them into a 99.9 per cent stake in RRPR in case the loan was not repaid. AMNL(AMG Media Networks Limited) & AEL(Adani Enterprises Ltd) , subsidiary of Adani Group, which host the media business of the Adani Group to played an important role after AEL acq...