| It was also pointed out by the I&B
ministry that after the transfer of shares, the Indian promoters’
holding in the company would fall below 51 per cent, which is a requisite
to comply with norms for uplinking from India.
Interestingly, according to FIPB documents, when the chairman of
the Board desired to know the existing policy of the I&B ministry
on such issues, the ministry representative could not clarify the
same in a recent meeting.
A decision on the issue would be taken only after clarifications
are obtained from various ministries concerned, including the department
of economic affairs.
The FIPB papers, available with Indiantelevision.com, indicate
that Tara Roy held 13 shares of the company when she was a resident
Indian and was also a member on the board of NDTV.
According to the guidelines for uplinking of news channels, permission
will be granted only in cases where equity held by the India shareholder
is at least 51 per cent of the total equity.
Presently, NDTV promoters Prannoy and Radhika Roy hold about 27.39
per cent equity stake each in the company, as per information available
on the Bombay Stock Exchange (BSE).
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seek FIPB nod to gift daughter NDTV stake
|