Shareholders of NDTV have approved the appointment of new directors to the board after Adani Group acquired the media firm. Sanjay Pugalia and Senthil Sinniah Chengalvarayan will be appointed as directors, and U K Sinha and Dipali B Goenka will be independent directors. Additionally, a special resolution to approve the remuneration payable to Non-Executive Directors, including Independent Directors, has also been approved. The e-voting process began on May 27, 2023, and ended on June 25, 2023.
Furthermore, according to the voting results and scrutinizer’s report on the postal ballot shared by NDTV to bourses, the appointment of former bureaucrat Dinesh Kumar Mittal as an Additional Director in the capacity of Non-Executive Independent Director of the Company has also been approved, subject to the approval of the Ministry of Information & Broadcasting.
Mittal, a former IAS officer of the 1977 batch, was Secretary of the Department of Financial Service. His appointment is effective from June 27, 2023, for two years, subject to the approval of shareholders in the ensuing General Meeting of the Company and the Ministry of Information & Broadcasting.
Last year, Adani Group acquired most of the stake of founders Prannoy Roy and Radhika Roy at a premium of almost 17 per cent over the rate it paid to minority shareholders of the firm, gaining full control of news broadcaster NDTV. The Adani Group now holds over 64 per cent of NDTV.
