Wednesday, October 28, 2020
Home News Reports NDTV to sell part of subsidiary to landlord, to pay outstanding rent

NDTV to sell part of subsidiary to landlord, to pay outstanding rent

Media house NDTV seems to be in some tumultuous times. Late last year it was revealed that NDTV was laying off around 25% of its workforce via a “turnaround plan” which would see them go for a much “leaner operation” than before.

Today, NDTV informed the bourses via a regulatory filing that it had approved the sale of a part of their subsidiary, to their landlord. The filing further stated that this plan was approved at the last meeting of the Board of Directors and that the sale proceeds would be used to pay the outstanding rent.

In the filing, NDTV revealed that it had approved the sale of up to 7.38% stake of the Company @ Rs. 59,824/- per Equity share in Red Pixels Ventures Limited (RPVL), a subsidiary of NDTV, to A R Chadha And Co (India) Private Limited, the landlord of the office premises in New Delhi.

This sale comes barely a year after they had approved the sale of its Indian wear e-commerce firm NDTV Ethnic Retail to Nameh Hotels & Resorts.

In December last year. NDTV’s editorial director had indirectly revealed at least one of the reasons for the financial stress NDTV is facing. A senior journalist with NDTV and wife of Congressman Sonia Singh had taken to social media to tweet that NDTV was not getting any “official” ads. If indeed “official ads” refers to Government ads, then the claim that they have stopped, and this has caused financial stress, meant that NDTV was running on the revenue of such ads for the past few years, including UPA’s tenure.

As per an RTI reply, The Government of India had paid a whopping Rs 15.33 crores as advertisement expenditure to NDTV and its group companies from 01/05/2014 to 30/06/2016. It is not known if anything had drastically changed since then:

As per the latest viewership numbers, NDTV is still languishing at a distant fifth in the top 5 English news channels

Besides the plummeting popularity, NDTV has other woes as well. The CBI is hot on the heels of the founders of NDTV, the Roy’s, for alleged bank fraud. The SEBI too had recently fined NDTV  for certain disclosure lapses. The Income Tax Department too is after the company for tax evasion. All in all, no acche din here.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Charlie Hebdo mocks Turkish President Recep Erdogan in its latest cartoons, shows him lifting a skirt of woman wearing ‘hijab’

The front-page caricature of Wednesday's edition of Charlie Hebdo that was released online on Tuesday night depicts Erdogan in a white T-shirt and underpants, drinking a can of beer and lifting up the skirt of a woman wearing a hijab to reveal her naked bottom.

Touseef’s mother called her and asked her to convert to Islam, Nikita Tomar’s family reveals

Tauseef's mother reportedly called Nikita several times asking her to convert to Islam

Delhi resident Sushil slaughtered by knife from meat shop over petty quarrel, four including prime accused Chand arrested

Shahnawaz, Aafaq, Chand and Haseen stab Sushil and his two brothers in north-west Delhi.

Tamil Nadu: Thol Thirumavalavan’s VCK members stab an office-bearer of Hindu organisation Indu Makkal Katchi

Manikandan, who is critical after sustaining injuries, has been admitted to the Dindigul Government Hospital and is currently undergoing intensive treatment.

Deepika Padukone’s manager Karishma Prakash goes untraceable after NCB raids her house, seizes drugs including charas

The NCB carried out raids at Karishma’s Versova residence and recovered 1.7 grams of charas and at least 2 bottles of CBD oil.

Watch: Moment when firing broke out and an eyewitness who narrates exactly what happened

The horrific violence that broke out during Durga Visarjan in Munger, Bihar last night has left people wondering as to what transpired that led to the death of an 18-year old boy and left many injured

Recently Popular

Faridabad: A month after college student Nikita files molestation complaint against Taufeeq, he shoots her dead

As per reports, the accused initially wanted to abduct the victim but killed her when she resisted him.

Nikita Tomar murder: Taufeeq was pressurising her to embrace Islam family alleges

On Monday, 21-year-old Nikita Tomar was shot to death in broad daylight outside the Aggarwal college in Ballabgarh, Faridabad

Nikita Tomar murder: Main accused Tauseef belongs to a family of influential Congress politicians from Nuh in Haryana

The prime accused Tauseef's grandfather, uncles and cousin brothers are all infuential Congress politicians from Haryana's Nuh

YouTuber Lakshay Chaudhary levels serious allegations of fraud against Gaurav Wasan of Swad Official whose video on ‘Baba ka Dhaba’ had gone viral

Gaurav Wasan of Swad Official had uploaded a video about the financial difficulties faced by the elderly couple of 'Baba ka Dhaba'.

18-year-old dead as police open fire at Durga Puja Visarjan procession in Munger, Bihar: Here is everything you need to know

An 18-year-old youth has reportedly been killed and several others injured in the firing that took place on the intervening night of Monday and Tuesday in Munger, Bihar

Two Hindu families see the death of the child, one because she dared to refuse Islam, one, because he wanted to bid goodbye to...

By any measure, the Faridabad incident and the Munger shooting are indeed absolutely shocking.
- Advertisement -

Charlie Hebdo mocks Turkish President Recep Erdogan in its latest cartoons, shows him lifting a skirt of woman wearing ‘hijab’

The front-page caricature of Wednesday's edition of Charlie Hebdo that was released online on Tuesday night depicts Erdogan in a white T-shirt and underpants, drinking a can of beer and lifting up the skirt of a woman wearing a hijab to reveal her naked bottom.

Touseef’s mother called her and asked her to convert to Islam, Nikita Tomar’s family reveals

Tauseef's mother reportedly called Nikita several times asking her to convert to Islam

Delhi resident Sushil slaughtered by knife from meat shop over petty quarrel, four including prime accused Chand arrested

Shahnawaz, Aafaq, Chand and Haseen stab Sushil and his two brothers in north-west Delhi.

Tamil Nadu: Thol Thirumavalavan’s VCK members stab an office-bearer of Hindu organisation Indu Makkal Katchi

Manikandan, who is critical after sustaining injuries, has been admitted to the Dindigul Government Hospital and is currently undergoing intensive treatment.

Deepika Padukone’s manager Karishma Prakash goes untraceable after NCB raids her house, seizes drugs including charas

The NCB carried out raids at Karishma’s Versova residence and recovered 1.7 grams of charas and at least 2 bottles of CBD oil.

Watch: Moment when firing broke out and an eyewitness who narrates exactly what happened

The horrific violence that broke out during Durga Visarjan in Munger, Bihar last night has left people wondering as to what transpired that led to the death of an 18-year old boy and left many injured

ABP quotes uncle of murderer Tauseef to whitewash the religious angle in the heinous murder of Nikita Tomar

Javed Ahmed out rightly denied any angle of religious conversion in the Nikita Tomar murder and said that he respected all religions.

Karan Johar’s Dharma Productions receives show cause notice for dumping garbage, bio-medical waste used during a film shoot in Goa on roadside

Goan activists threatened of taking Dharma Productions and Karan johar to court for breaking the laws of the land.

Weeks after being targeted by opposition parties and media for allegedly favouring BJP, Ankhi Das quits Facebook

Ankhi Das was mired in controversy lately after a WSJ article accused Facebook India of showing bias towards BJP.

Nikita Tomar murder: Main accused Tauseef belongs to a family of influential Congress politicians from Nuh in Haryana

The prime accused Tauseef's grandfather, uncles and cousin brothers are all infuential Congress politicians from Haryana's Nuh

Connect with us

245,563FansLike
469,849FollowersFollow
19,400SubscribersSubscribe