Bangladesh has reportedly contacted the PCB seeking diplomatic help as they look to pile on pressure on the ICC to shift their T20 World Cup matches to Sri Lanka.
When everyone has footage and no one can verify it, the loudest voice wins, notes Prem Panicker who begins a daily blog on the War in the Middle East.
News broadcaster NDTV Ltd on Friday reported a 59 per cent jump in March quarter revenue as it expanded digital footprint, gaining a 39 per cent rise in traffic. Consolidated net loss of Rs 8.74 crore in January-March compared with loss of Rs 1.35 crore profit in the same period a year back, according to a stock exchange filing by the company. Loss, however, narrowed from Rs 10.13 crore in the December quarter as its digital footprint expanded and gained traction.
Ports-to-energy conglomerate Adani Group saw a 29 per cent rise in tax outgo across portfolio companies to nearly Rs 75,000 crore, it said on Thursday. This includes both direct and indirect taxes paid, as well as payments towards employee social security.
'We cannot deny that Pakistan also played brilliantly.'
Adani group on Friday rejected NDTV's assertion that Sebi approval is necessary to acquire interests in RRPR, saying the promoter entity is not a part of the regulator's order that restrained Prannoy and Radhika Roy from accessing the securities market. Terming the contentions raised by RRPR as "baseless, legally untenable and devoid of merit", Vishvapradhan Commercial Private Ltd (VCPL) said the holding firm is "bound to immediately perform its obligation and allot the equity shares" as specified in the Warrant Exercise Notice. In a regulatory update, Adani Enterprises Ltd said VCPL has received a reply on behalf of NDTV and RRPR over the Warrant Exercise Notice dated August 23, 2022.
Media company New Delhi Television (NDTV) recorded its highest-ever consolidated profit at the group level in over a decade for financial year 2021-22 (FY22), said co-chairpersons Radhika Roy and Prannoy Roy in the firm's latest annual report. Addressing shareholders, the Roys, founder-promoters of NDTV, said the company had emerged financially strong in FY22, continuing the turnaround of recent years. "Both the television and digital branches of the NDTV group reported their highest-ever profit. NDTV Ltd (television arm) recorded a profit of Rs 59.18 crore.
New Delhi Television (NDTV) has deferred its Annual General Meeting (AGM) by a week to September 27, the company said in a regulatory filing on Sunday. The AGM was originally scheduled to be held on September 20. The media company said that the deferment was due to the processes required after the notice and public announcement of the open offer made by Vishvapradhan Commercial (VCPL), an indirect subsidiary of Adani Enterprises, to its public shareholders.
Adani group stocks rallied on Thursday morning after Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down. Shares of Adani Power surged 9.21 per cent, Adani Green Energy soared 8.86 per cent, Adani Enterprises climbed 7.72 per cent, Adani Total Gas jumped 7.10 per cent, NDTV rallied 7 per cent and Adani Energy Solutions advanced 6.63 per cent on the BSE.
The deal is for $55 million (around Rs 260 crore) and is expected to be completed by the end of the first quarter of 2010. NDTV Group would retain a 31 per cent stake in the joint venture.
Actor Mahesh Babu has been summoned by the Enforcement Directorate (ED) in a money laundering case related to realty group Surana group and Sai Surya Developers. The actor is accused of receiving over Rs 5.5 crore for appearing in advertisements for the Surana Group. The ED earlier found illegal transactions worth Rs 100 crore and seized Rs 74.5 lakh in cash during searches at Surana group's affiliated companies. Surana Group is accused of fraud under the guise of real estate ventures and is alleged to have caused financial losses to numerous investors.
Leading bourses BSE and NSE will put the securities of NDTV, an Adani Group company, under the short-term ASM framework from Tuesday. The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio. New Delhi Television Ltd (NDTV) is shortlisted in the short-term Additional Surveillance Measure (ASM) framework Stage-I effective from May 30, the National Stock Exchange (NSE) and BSE said in two separate circulars on Monday.
With billionaire Gautam Adani launching a hostile takeover of NDTV, the Congress on Wednesday alleged that the bid by a company owned by Prime Minister Narendra Modi's 'khaas dost' (special friend) is a brazen move to control and stifle any semblance of an independent media.
Richest Asian Gautam Adani's group on Tuesday said it will pay an additional Rs 48.65 a share to NDTV stockholders who tendered their shares in its open offer to help match what it had paid to buy out a stake of the news broadcaster's founders. Adani Enterprises in a stock exchange filing said it will pay an additional Rs 48.65 per NDTV share to investors, who had sold their shares in an open offer between November 22 and December 5, taking the payout to Rs 342.65 a share and matching what it paid to buy Prannoy Roy and Radhika Roy's stake. Adani Group first acquired Vishvapradhan Commercial Private Limited, a little-known company that had given Rs 403 crore of an interest-free loan to RRPR Holdings - a company founded by the Roys and bore their initials in its name - in 2009-10 in exchange for warrants that allowed it to buy a stake in the newsgroup at any time.
Blackstone, one of the world's largest private equity funds, is negotiating with the NDTV group for a stake in NDTV Networks, a new company, as part of an investment consortium.
In the centre of an ownership battle with Adani Group, New Delhi Television (NDTV) can prevent a takeover by the group if it can buy more shares from public shareholders, corporate lawyers told Business Standard. On Tuesday, the media arm of Adani Group said it had exercised rights to acquire an indirect stake of 29.18 per cent in NDTV through conversion of loans into equity in a promoter group entity of NDTV. This will trigger a mandatory open offer for an additional 26 per cent stake in NDTV, even as the broadcaster said its founder promoters had neither consented to the exercise of rights nor was any conversation or input given on the matter.
Battling a hostile takeover bid, NDTV's promoter entity RRPR Holding Ltd has sought clarity from Sebi on whether its earlier order bars the conversion of warrants issued to VCPL, now owned by the Adani group. Passing an order on November 27, 2020, the Securities and Exchange Board of India (Sebi) has restrained NDTV founders Radhika and Prannoy Roy to access the securities market for a period of 2 years. As restrictions are still in force, hence a prior written approval from Sebi was required for Vishvapradhan Commercial Private Limited (VCPL) for the exercise of the conversion option on the warrants, NDTV founders had said.
The Adani Group on Friday said it has acquired 27.26 per cent equity stake in NDTV from Prannoy Roy and his wife Radhika Roy -- founders of the news broadcaster. "RRPR, an indirect subsidiary of the company and member of the promoter/promoter group of NDTV, has acquired a 27.26 per cent equity stake in NDTV from Prannoy Roy and Radhika Roy by way of inter-se transfer...," said a regulatory filing from Adani Enterprises. On December 23, Prannoy Roy and Radhika Roy had announced to sell 27.26 per cent out of their remaining 32.26 per cent shareholding in the NDTV to the Adani Group.
In a stock exchange filing, Adani Enterprises Ltd said VCPL has urged SEBI "to provide its observations on the draft letter of offer filed in relation to the open offer, in accordance with the SEBI (SAST) Regulations."
News, as a business, faces its biggest crisis ever, globally. To fight it needs investment in feet-on-the-ground journalism, tech tools like artificial intelligence among other things.
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
NDTV founders Prannoy Roy and his wife Radhika Roy have resigned as the directors of promoter group vehicle RRPR Holding Private Limited as the Adani Group neared takeover of the television channel.
Dominic Xavier offers his take on Adani group's takeover bid of of NDTV, arguably the rare English and Hindi news television network that is not part of what has come to be known as the godi media.
Vishvapradhan Commercial Private Ltd, a little-known entity through which the Adani Group has launched a hostile bid for NDTV Ltd, had an annual turnover of just Rs 60,000 few years back but it gave Rs 400 crore of interest-free loans to the broadcaster in 2009, as per Sebi orders.
Markets regulator Sebi has approved Adani Group's open offer to buy an additional 26 per cent stake in media firm New Delhi Television (NDTV) and the offer will commence on November 22. According to an update on Sebi's website on Monday, the regulator gave its final comments on the proposed Rs 492.81 crore-open offer on November 7. The offer will tentatively open on November 22 and close on December 5. The price fixed is Rs 294 per share, as per a recent regulatory filing by NDTV.
News broadcaster New Delhi Television Ltd's (NDTV's) promoter firm RRPR Holding said on Monday that it had transferred shares constituting 99.5 per cent of its equity capital to Adani group-owned Vishvapradhan Commercial (VCPL). The transaction was done on Monday, RRPR Holding said in a disclosure to the stock exchanges, in consonance with a conversion notice, dated August 23, 2022, issued by VCPL. This follows the expiry of the two-year restraint imposed by the Securities & Exchange Board of India (Sebi) on November 26, it said.
The Kanimozhi Karunanidhi-led delegation is visiting five European nations to garner support for India's campaign against cross-border terrorism.
NDTV promoter group firm RRPR Holding has told VCPL, which along with two other Adani group firms has launched a hostile takeover bid for the media firm, that its stakeholding in NDTV has been provisionally attached by the I-T authorities and require their approval for the transfer. The contention has been rejected by the Adani group, which termed it as "misconceived and misleading" statements while asking RRPR Holding to convert the warrants into equity shares. In a regulatory filing, NDTV said that its founders Radhika and Prannoy Roy have informed that RRPR Holding has intimated Adani group firm Vishvapradhan Commercial Pvt Ltd (VCPL) that the attachment of the shareholding, notified in 2018, shall remain in place until the completion of reassessment proceedings.
Three firms, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of Rs 294 for the acquisition of up to 1,67,62,530 fully paid-up equity shares of NDTV having a face value of Rs 4 from the public shareholders.
"Independence means if government has done something wrong, you say it's wrong. But at the same time, you should have courage when the government is doing the right thing every day. You have to also say that," he Gautam Adani was quoted as saying by FT.
Seven out of the 10 listed firms of Adani group have received show cause notices from the Securities and Exchange Board of India (Sebi) for alleged violation of related party transactions and non-compliance with listing regulations, the companies said in their regulatory filings to the stock exchanges. While group's flagship Adani Enterprises Ltd, renewable energy firm Adani Green Energy Ltd (AGEL) and city gas distributor Adani Total Gas Ltd said Sebi sent notices of their parent or holding company controlled by conglomerate's chairman Gautam Adani, ports company Adani Ports & Special Economic Zone, Adani Power, electricity transmission firm Adani Energy Solutions, and commodities firm Adani Wilmar said they have received Sebi notices.
Adani group stocks faced heavy drubbing during the early trade on Thursday, with Adani Energy and Adani Enterprises tumbling 20 per cent, as billionaire Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay $250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The stock of the group's flagship firm Adani Enterprises plunged 20 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 19.17 per cent, Adani Total Gas tumbled 18.14 per cent, Adani Power slumped 17.79 per cent, and Adani Ports dived 15 per cent on the BSE.
Investors became richer by nearly Rs 8 lakh crore on Wednesday as benchmark BSE Sensex surged by 740 points amid value buying in utilities and power shares and a strong trend in global markets. The 30-share BSE Sensex surged by 740.30 points or 1.01 per cent to close at 73,730.23.
Shares of eight of the ten listed firms of the Adani Group ended with gains on Tuesday after taking a beating in recent sessions. Adani Enterprises stock jumped 14.22 per cent to settle at Rs 1,364.05 on the BSE. During the day, it rallied 19 per cent to Rs 1,421.95.
Hectic buying in blue chip counters like Reliance Industries, IT and teck shares boosted market sentiment. State Bank of India, Tata Consultancy Services, Titan, ITC, Infosys, Larsen & Toubro, Reliance Industries and Bajaj Finance were the biggest gainers.
Former Chief Justice of India D Y Chandrachud has expressed concern about the influence of social media on the judiciary, stating that special interest groups are using it to sway court decisions and judges need to be vigilant. He highlighted the dangers of forming opinions based on short social media clips, emphasizing the nuanced nature of judicial decision-making. Chandrachud also defended the collegium system for judicial appointments and clarified that while there is no legal bar on judges entering politics after retirement, their decisions might be scrutinized differently due to their past roles.
The I-T department had issued re-assessment notice in March 2015 to the media group after noting that Rs 642 crore has allegedly not been computed for the tax assessment purposes of NDTV for financial year 2007-2008.
After a $110 billion rout in market value, embattled Adani group got some reprieve on Tuesday after shares of most of its listed firms rebounded on bourses and international rating agencies said there was no credit risk for lenders with exposure to the group. The group, which is in the midst of a political storm after US-based short-seller Hindenburg Research's adverse report dated January 24 triggered a meltdown in group stocks wiping out billions of dollars in market value, also had a mixed day with the quarterly results of four of its entities, particularly Adani Ports and Special Economic Zone reporting a 12.94 per cent decline in consolidated net profit to Rs 1,336.51 crore for the December quarter 2022. Shares of flagship firm Adani Enterprises settled nearly 15 per cent higher at Rs 1,802.50 apiece while shares of Adani Wilmar jumped 5 per cent to end at Rs 399.40 on BSE.
Turner International is close to acquiring a controlling stake in entertainment company NDTV Imagine, which runs three entertainment channels.
Stocks of all the ten listed Adani Group firms ended with gains on Wednesday, continuing the positive momentum amid a recovery in the broader equity market. Adani Enterprises stock jumped 14.70 per cent to settle at Rs 1,564.55 on the BSE. In intra-day trade, it rallied 15.83 per cent to Rs 1,580.
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