Home News Reports NDTV’s Interim CEO Suparna Singh resigns with immediate effect

NDTV’s Interim CEO Suparna Singh resigns with immediate effect

NDTV is facing multiple cases related to violation of FDI norms, Income Tax violation, and non-compliance with disclosure norms

The interim CEO of media outlet NDTV, Suparna Singh has resigned from her post with immediate effect. This was informed by NDTV in fillings made with BSE and NSE as per disclosure norms.

In the regulatory filing, NDTV said, “Singh has informed the company that she will step down from her responsibilities as Interim CEO with immediate effect.” NDTV said that in accordance to a board resolution on December 4, 2017, the board resolved to appoint Suparna Singh as its CEO on receiving the receipt of requisite approval from the Ministry of Information and Broadcasting.

Disclosures made by NDTV

- Ad - - article resumes -

The company promptly applied for approval on December 12, 2017, but is yet to receive the approval from the ministry. Therefore, “Singh and the organisation entered into an appointment agreement to appoint Singh as the CEO contingent upon the receipt of such approval,” NDTV added.

In the meanwhile, Suparna Singh continued to act as the interim CEO of the company. NDTV said in the disclosure that the matter will be placed before board and committee members for consideration.

Suparna Singh, who holds a Master’s degree in Television, Radio and Film from Syracuse University, has been associated with NDTV since 1994 and has worked on several positions at the media organisation. She was elevated to the post of CEO after Vikram Chandra, the former CEO, had resigned from the post in 2016. It is understood that she only resigned from the post of interim CEO and she will continue in NDTV as a journalist.

NDTV is facing multiple cases related to violation of FDI norms, Income Tax violation, and non-compliance with disclosure norms. CBI is probing a case against NDTV in relation to a Rs 375 crore loan from ICICI Bank and a corresponding wrongful loss of Rs 46 crore to the bank. There is a chain of borrow, repay and borrow where Roys took a series of loans in 2008 as they sought to buy back a large chunk of NDTV shares from the market, allegedly violating foreign direct investment (FDI) rules in a 2007-09 investment, a charge denied by the company.

An FIR was filed against Prannoy Roy, Radhika Roy, NDTV, RRPR Holdings Pvt Ltd and unknown officials of ICICI Bank by a company called Quantum Securities Limited in June 2017. The charges levelled were those of criminal conduct, conspiracy and cheating. QSL is a shareholder both in NDTV and ICICI and filed the FIR as an aggrieved party of the alleged misdeeds.

Earlier this month the Securities Appellate Tribunal (SAT) had upheld a SEBI order imposing a penalty of ₹2.10 crore on NDTV and ₹3 lakhs each on 3 directors for violation of disclosure norms. It is alleged that the company and its directors failed to inform the stock exchanges about a tax demand of ₹450 crore served by the income tax department.

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Big Story

SC will hear Ghulam Nabi Azam's petition against abrogation of Article 370 on 16th September

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

To Advertise on Opindia.com Click here

Rakesh Jhunjhunwala slams notions of economic crisis gripping the country

“I don’t want Pappu to be my Prime Minister”: Investor Rakesh Jhunjhunwala says PM Modi has performed very well

In an explosive interview, Rakesh Jhunjhunwala pulled no punches in rubbishing the doomsayers casting aspersions on Modi government

Prashant Kishor’s team starts reaching out to media and influencers with ‘paid content’ offers ahead of West Bengal assembly elections

Darjeeling Chronicle has exposed how Prashant Kishor led IPAC is reaching out to 'influencers' and digital portals to carry out paid campaigning for TMC and Mamata Banerjee ahead of 2021 West Bengal state elections

Fact-Check: Is Zaira Wasim making a comeback with The Sky Is Pink after quitting Bollywood for Islam?

The trailer The Sky Is Pink starring Priyanka Chopra and Farhan Akhtar was released on 10th September and it also starts Zaira Wasim
Imran Khan has assumed that all 1.2 billion Muslims in the world are jobless enough to listen to his useless rants

Imran Khan’s new Friday fad: Comes to PoK to declare that Indian Muslims will rise against India

PoK activist Amjad Ayub Mirza had stated yesterday that Khan's party and the Pakistani authorities had ferried people from Abottabad and Rawalpindi to attend the rally.

Raj Thackeray’s MNS, with zero Vidhan Sabha seats, threatens to boycott forthcoming Maharashtra Assembly elections

Raj Thackeray's MNS is contemplating to boycott the upcoming Maharashtra state assembly elections
Image Source: twitter

Malala Yousafzai spreads fake news, claims girl from Kashmir missed her exams on August 12 which was an Eid holiday

According to Malala, one of the three girls from Kashmir missed her exams on August 12. However, August 12 is a notified holiday declared across the country by Government of India on the occasion of Bakr Id or Eid ul-Adha.
Allahabad University professor goes on indefinite leave after video insulting Hindu gods goes viral

Allahabad University professor who had boasted of urinating on a Shivling in viral video goes on indefinite leave, claims ‘lynching’ fear

Dr Vikram Harijan had claimed in the video that he had once urinated on a Shivling just to prove that the gods cannot do him any harm.

‘Kashmir free from shackles of Pakistan sponsored terrorism’: Pakistani org representing Pashtuns refuses to support Imran Khan’s Kashmir protest, backs India

Pashtun Tahaffuz Movement (PTM), the principal body representing Pashtuns in Pakistan, has rejected Prime Minister Imran Khan’s recent call to all people in which he urged them to come out and support Pakistan’s narrative on Kashmir. 
Vivek Ranjan Agnihotri

Vivek ‘Ranjan’ Agnihotri speaks about caste politics being played in Bollywood

Vivek Agnihotri responds to Neeraj Ghaywan’s tweets, and also shares a hitherto unknown trivia about his full name.
Subscribe to Day's Top Stories
[newsletter_form type="minimal"]
- Advertisment -

Latest articles

Connect with us

182,748FansLike
179,925FollowersFollow
97,274SubscribersSubscribe
Help Opindia Reach Every Indian. Share This Post