Congress Blasted Adani’s Aggressive Move

The way Gautam Adani jumped to buy NDTV is claimed by the concerned circles as an aggressive acquisition attempt. Congress raised the issue on Wednesday. They also targeted Narendra Modi in the matter. In their sarcasm, the Prime Minister’s ‘special friend’ organization is trying to forcefully buy the news channel. It is a blatant attempt to curtail the freedom of the press and stifle their voice. Employees of the organization have also expressed their fear of losing their freedom and being layoffs.

Some claim that New Delhi Television (NDTV) has been seen criticizing the government’s policy at various times. On the other hand, the opposition says that industrialist Gautam Adani is close to Narendra Modi, who had become the chief minister of Gujarat and became the prime minister of the country. Adani has been named among the richest people in the world in the past few years. Adani’s attempt to buy NDTV by force is considered significant by them. Concerned parties claim that if the acquisition is successful, there will be any policy changes in the activities of the news channel, it is now waiting to be seen.

Comments of Congress General Secretary 

image source:×309/gautam_adani_hostile_takeover_bid_ndtv_congress_1661312902698_1661312902804_1661312902804.jpg

Congress general secretary Jairam Ramesh expressed anger in a tweet that day, saying, “The news of Prime Minister’s debt-ridden ‘Special friend’ buying a well-known news channel is nothing but centralization of economic and political power and control of such independent media and stifling of their voice. Shameless attempt.” Ramesh also claimed that how Adani arranged the acquisition by using the loan given to NDTV is quite ‘mysterious’.

The Adani group company said on Tuesday that indirectly but suddenly they acquired a 29.18% stake in NDTV. Then on the same day, it made an open offer of 493 crore rupees to buy another 26 percent stake from the market. The resulting 55% stake in NDTV shows that they are desperate to take over the news agency. NDTV alleges that the Adani group has proceeded without any discussion with the organization or its founding promoters Radhika and Prannoy Roy.

Rajya Sabha MP Kapil Sibal also expressed concern about the ability of NDTV to work independently in the coming days. But according to some, it is a duel between Mukesh Ambani and Gautam Adani. After oil, and alternative electricity, their battleground is the media. Mukesh appeared with Network 18. He owns a bunch of channels including CNN-News 18, and CNBC-TV 18. Now Adani wants to compete with companies like NDTV 24×7, NDTV India, and NDTV Profit.

What is the event?

RRPR Holding borrowed from ICICI Bank at 19 percent interest to meet Indiabulls’ debt. Who owns 29.18 percent of NDTV. In 2009, an interest-free loan of 350 crore rupees was borrowed from World Commercial Corporation (VCPL) to pay off ICICI Bank’s debt. Later another 53.85 crores were withdrawn from VCPL. RRPR issued warrants to VCPL instead of this loan. It is said that the global principal can convert the warrants into equity shares during or after the term of the loan.