Chaos in TV9 sale : TV9 management approached Adani, Reliance and Essel group and offered TV9 Marathi & TV9 Guajarati to these groups.
Its known that a year back TV9 changed hands. MYHOME, a real estate group and Megha Engineering & Infra Limited (MEIL) both Hyderabad based companies took over majority shareholding in TV9 group.
Founder Chairman & CEO of the group, Ravi Prakash vehemently opposed this move and approached different courts as the newly inducted directors of the company were brought-in by illegal means without the approval of the then current board.
There is a legal tussle going on this issue in NCLT, NCLAT and the H’nble Highcourt of Telangana.
In total thirteen cases were filed on TV9 ownership dispute wherein Ravi Prakash alleged that the manual uploading of Directors in RoC from the real-estate group was illegal. When these cases are in pending, Ravi Prakash raised another issue of TV9 logo ownership.
Ravi is confident as he holds the TV9 logo and he being the author of it. He gave an offer to the new management to change the logo of TV9 after clearing his dues on the usage of his logo.
On the other hand, Ravi and CFO of TV9 group, Murthy are still the only directors and shareholder of TV9 Maharashtra and TV9 Gujarat controlling the affairs of both the companies.
Meanwhile, TV9 is incurring losses to the tune of about 25cr per month. The new management vexed with the cases, logo claim by the old management and the continuous losses they now want to sell the TV9 different language channels to different business houses.
TV9 management approached Adani, Reliance and Essel group and offered TV9 Marathi & TV9 Guajarati to these groups. The big business groups have declined the proposal looking into the legal tussle and logo ownership dispute of the company. Now, TV9 is pitching to mid-level business groups and politicians in Maharashtra and Gujarat.
टीवी9 ग्रुप से जुड़े एक पत्रकार द्वारा भेजे गए पत्र पर आधारित.