NDTV Case

There was no collusion, criminal conspiracy or abuse of position by officials of ICICI Bank in accepting repayment of a loan at a reduced rate of interest from promoters of NDTV Prannoy Roy and Radhika Roy, the CBI has concluded in its closure report in the 2017 case. The CBI FIR registered on the basis of a complaint from Sanjay Dutt of Quantum Securities Ltd had alleged that ICICI Bank had sanctioned a loan of Rs 375 crore in 2008 against the entire 61 per cent shareholding of the promoters as collateral. The bank had allegedly accepted the repayment of the loan by reducing the interest rate from 19 per cent per annum to 9.5 per causing a wrongful loss of Rs 48 crore to the bank and corresponding gain to the promoters, it had said. The central investigation agency after nearly seven years of probe came to the conclusion that the reduction of the rate of interest from from 19 per cent to 9.65 per cent as approved on August 5, 2009 was based on various factors -- borrowers' inabili

The CBI on Tuesday filed a closure report in a case of alleged cheating against former NDTV promoters and directors Prannoy Roy and Radhika Roy as it could not find legally tenable evidence in the Rs 48 crore loss incurred by ICICI Bank in the settlement of a loan in 2009, officials said. The case was initiated in 2017 when the CBI registered an FIR based on a complaint from an individual, Sanjay Dutt, of Quantum Securities Ltd who alleged that RRPR Holdings Pvt Ltd, associated with the Roys, had taken a Rs 500 crore loan from India Bulls Pvt Limited to acquire a 20 per cent stake in NDTV through a public open offer. According to the FIR, RRPR Holdings also took out a Rs 375 crore loan (with Rs 350 crore disbursed) from ICICI Bank at an interest rate of 19 per cent per annum to repay the loan from India Bulls. The complaint alleged that the Roys pledged their entire shareholding as collateral for this loan, failing to report the pledging to the Securities and Exchange Board of India

Stock exchange data shows that no shares were tendered so far; NDTV share price down for third day in a row...

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The shares of NDTV have been galloping ever since Adani group made an open offer to acquire 26 per cent stake in the satellite channel company

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Shares of New Delhi Television Ltd (NDTV) hit the upper circuit limit for the third straight day in the opening trade on Friday. The company's shares have been rising after Adani group's hostile takeover bid with the announcement of an open offer on Tuesday to acquire an additional 26 per cent stake. The scrip opened at Rs 423.85, its highest trading permissible limit for the day as well as the fresh 52-week high level, on BSE. This was a 5 per cent increase compared to Thursday's closing level of Rs 403.70 apiece. As the session progressed, the shares were trading at Rs 422.10 apiece, a gain of 4.56 per cent. On NSE too, the company's shares reached the upper circuit limit of Rs 427.95, which was also its 52-week high on the bourse, after opening at Rs 421.90. The scrip marginally shed the gains and was 3.48 per cent up at Rs 421.80. On Thursday, it closed at Rs 407.60. In early trade, both the Sensex and the broader Nifty indices were trading in the green. Adani group, on Tues

Says any subsequent attempt to return money received or original warrant certificate will have no legal effect on exercise of warrants by VCPL

NDTV sought to block tycoon Gautam Adani's move, saying its founders Prannoy and Radhika Roy have since 2020 been barred by the SEBI from buying or selling shares in India's securities market

At the bourses, NDTV has been one of the best performing stocks. In the past three months, the counter has gained nearly 140 per cent, as compared to 8 per cent rise in the S&P BSE Sensex

The tribunal's ruling came on appeals filed by NDTV against Sebi's orders passed in a case pertaining to the firm making delayed disclosure to exchanges regarding tax demand

It is alleged that reset of interest rate to less than 10% from 19% caused a loss of Rs 48 cr to ICICI Bank

Informs complainant of proceedings into alleged change in control violation