Adani closes in on NDTV takeover as founder entity transfers shares
BENGALURU: New Delhi Television Ltd (NDTV) said on Monday an entity backed by its founders had issued shares to a unit of Adani Group, taking the billionaire Gautam Adani-led conglomerate a step closer to taking over the media firm.
The transfer of shares will give Adani control over a 29.18% stake in the news group. Adani is also conducting an open offer running between November 22 and December 5 for a 26% stake in NDTV.
The open offer drew bids for 5.3 million shares as of Monday's close, or around 32% the 16.8 million shares on offer, exchange data showed.
The ports-to-energy conglomerate run by Asia's richest man unveiled plans late in August to acquire a majority stake in the popular news network, seen as a bastion of independent media.
More than a decade ago, NDTV founders Radhika and Prannoy Roy took a 4 billion Indian rupee ($49.00 million) loan from a company that Adani acquired in August. In exchange, they issued warrants that allowed the company to acquire a 29.18% stake in the news group.
NDTV had sought to block the transfer of shares in August, saying its founders had since 2020 been barred from buying or selling shares in India's securities market, and so cannot transfer shares which Adani was trying to secure in a bid to exert control.
NDTV said the entity backed by its founders issued shares after the market regulator's restrictions on its founders expired on November 26.
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BJP intends to incite violence by playing DJ in UP elections: Akhilesh Yadav
Lucknow (PTI): Samajwadi Party chief Akhilesh Yadav on Sunday claimed that the "BJP intends to play DJs at full volume" during their campaign in Uttar Pradesh elections to deliberately "spread hatred and incite violence" in the state.
Speaking to reporters at the party office in Lucknow, Akhilesh Yadav said, "This time, the elections will be contested in Uttar Pradesh through the DJs. They intend to use DJs extensively to spread hatred and incite violence. If objectionable songs are played, there will naturally be a response from the opposing side. This appears to be yet another new conspiracy of the BJP. We have already warned the public about this."
The assembly elections are due early next year in the state.
He also referred to the recent deaths of as many as 140 chickens at a farm due to loud music from a wedding procession in Sultanpur district, with police registering a case against the DJ in this connection.
"Chickens are losing their lives due to the sound of a DJ. In fact, if a person with a weak heart were to walk past a DJ, they too could find themselves in a problem. The sound waves are so strong," Yadav said.
Referring to the cell broadcast alert system launched on Saturday, the SP chief said, "The mobile phone was switched off. The ringer was off. Yet, an alert will still appear on the device. Just think, what exactly is this preparation for? The entire BJP contests elections by creating fear, by intimidating you."
Mobile phones across the country went abuzz after Union Telecom Minister Jyotiraditya Scindia launched the cell broadcast alert system on Saturday, which will warn citizens about emergency and natural disasters in their area.
Comparing the BJP with 'Soan Papdi' (a popular sweet), Yadav said, "The BJP is a 'Soan Papdi' made of lies. They simply stack one layer of falsehood upon another. Propaganda constitutes the BJP's targeted campaign strategy. They contest elections by instilling fear in the public.
The BJP has failed to curb both inflation and corruption. Instead, they allowed their own associates to engage in profiteering, a practice that has driven both inflation and corruption to unprecedented levels." Yadav stated.
He said that the rising prices of petrol, diesel, and cooking gas inevitably drive up the cost of everything, from food and daily essentials to transportation. The common people have been "devastated by the BJP's misguided policies".
He also claimed that the government's fee structure is such that children from poor families cannot afford to study.
"It was for this very reason that 'Netaji' (Mulayam Singh Yadav) launched the 'Kanya Vidyadhan Yojana' to ensure that daughters from underprivileged families could pursue their education, advance in life, and achieve success. The promise we made regarding free education for daughters --- from KG to PG is a promise we will fulfil and deliver upon," he said.
He added that the Women's Reservation Bill has been passed by Parliament and enacted into law. However, the BJP is currently engaging in false propaganda regarding this legislation. The BJP's intentions concerning women's reservation have never been transparent. They are running a deceptive campaign specifically designed to mislead both the general public and women.
Yadav claimed that under the BJP government, all previous records regarding corruption and dishonesty have been shattered.
"The public is being fleeced under the pretext of installing 'smart meters. ' The implementation of smart meters has become a vehicle for large-scale fraud. If such dishonesty is possible with smart meters, how can Electronic Voting Machines (EVMs) be considered secure? Why would it not be possible to manipulate EVMs as well?" he said.
The SP chief also said that the BJP government has completely ruined the state's education, healthcare, and law and order systems. This government has shut down 21,000 primary schools. In over 41,000 primary schools, not a single admission has been recorded. In Gorakhpur, thousands of teaching positions have been abolished.
Under the BJP government, water tanks being constructed under the 'Jal Jeevan Mission' are continuously collapsing due to corruption. These tanks are "unable to bear the weight of the BJP's corruption". The pipeline of this corruption, involving the water tanks, likely extends all the way to Kalidas Marg, he said, and expressed his gratitude to the Army officials and congratulated them for saving the lives of children during the incident involving the water tank in Siddharthnagar district.
To a question on World Press Freedom Day, where India ranked at the 157th spot, Akhilesh Yadav, in a lighter vein, said, "We will run a scheme -- give 'cash' less' laptop bags. But here the 'less' should be understood in Hindi. We will give a filled laptop bag to you."
On this occasion, Yadav also distributed laptops to meritorious students who had passed class 10th and class 12th examinations with high marks.
The former chief minister also said, "The Samajwadi Party launched the laptop distribution scheme precisely to bridge the digital divide existing between the pre- and post-digital eras."
