NDTV LOAN CRISES

Vishvapradhan Commercial Pvt Ltd (VCPL) had loaned Rs 403.85 crore to NDTV promoter company RRPR
Holding Pvt Ltd which was taken by the founders Prannoy and Radhika Roy of New Delhi Television’s
(NDTV).
This loan was interest free loan,to which RRPR issued warrants to VCPL entitling it to convert them into a
99.9 per cent stake in RRPR in case if it isn’t paid-back on time.
So RRPR defaulted the money to be paid and changed its ownership.VCPL ownership changed hands in
2012. Adani group firm first acquired VCPL from its new owner and exercised the option to convert
unpaid debt into a 29.18 per cent stake in the news channel company.
As of Tuesday, AMG Media Networks Ltd, a wholly-owned subsidiary of Adani Enterprises, bought 100
per cent of the equity stakes in VCPL for Rs 113.74 crore. It then converted the warrants of NDTV loan
into equity, getting a 29.18 per cent stake in NDTV.
Radhika and Pranav Roy continue to hold a 32.26 per cent stake in NDTV.
The VCPL loan had previously led market regulator SEBI to haul up Roys for not disclosing the terms of
the VCPL loan to investors.
The same loan has now become the reason for an apparent ‘hostile’ takeover of NDTV.