InvestorQ : Why does SEBI have to give approval to the sale of NDTV stake to Adani group?
Tisha Malhotra made post

Why does SEBI have to give approval to the sale of NDTV stake to Adani group?

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Aashna Tripathi answered.
1 month ago
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It just depends on which way you look at it. After the VCPL deal for warrant conversion, 18.29% stake in NDTV has to be transferred to Adani Media. However, Prannoy and Radhika Roy have claimed that since SEBI banned the promoters for 2 years till November 2022, transfer of shares would require prior SEBI approval.

The NDTV promoters have been banned from accessing the securities market in any form. However, legal experts opine that this is just a procedural issue and not an issue for legal debate. This would not be a valid reason for holding up legal transfer of shares, just because the promoter is under ban. Adani is confident that SEBI approval is not required.

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