Are we allowed to transfer shares to Adani Group firm: NDTV's Roys ask Sebi
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NDTV founders Radhika and Prannoy Roy have informed New Delhi Television - the promoter group vehicle of NDTV -- RRPR Holding Private has written a letter on Sunday to the Securities and Exchange Board of India (Sebi) asking it to determine whether the Sebi order dated November 27, 2020, restricts the conversion of warrants issued to Vishvapradhan Commercial Private (“VCPL”) into equity shares of the promoter group vehicle RRPRH.
On August 23 2022, VCPL, in a notice to RRPRH, had intimated that it was exercising its right to convert warrants issued to it in 2009 into equity shares which would give VCPL the control of 99.5 per cent of RRPRH.
RRPRH issued the warrants after it took an interest-free loan from VCPL -- then owned by a Mukesh Ambani-owned entity.
But NDTV had said Sebi, in its order, had restrained the Roys from buying, selling or otherwise dealing in securities, directly or indirectly, for a period of two years, ending on November 26 2022; hence it cannot transfer the shares.
RRPRH has also informed VCPL of its letter to SEBI.
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Adani Power on Friday said it has received the Letter of Award (LoA) to set up a 2,400 MW greenfield thermal power plant with an investment of $3 billion at Pirpainti in Bhagalpur district of Bihar.
In a statement, Adani Power said it has received the LoA for 25-year long-term procurement of electricity from Bihar State Power Generation Company Ltd (BSPGCL), which it will supply from a 2,400 MW (800 MW X 3) greenfield ultra super critical plant to be set up at Pirpainti.
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Chief Justice of India B R Gavai on Friday administered oath to Bombay High Court Chief Justice Alok Aradhe and Patna High Court Chief Justice Vipul Manubhai Pancholi.
The two were elevated to the Supreme Court on August 27.
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Wood has removed the investment in Aditya Birla Real Estate in his India long-only equity portfolio and replaced it with an investment in Mahindra & Mahindra (M&M).
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Former Reserve Bank of India (RBI) Governor Urjit Patel has been appointed executive director at the International Monetary Fund (IMF), the government said in a statement released on Friday.
The announcement came almost four months after former chief economic adviser (CEA) Krishnamurthy V Subramanian’s term was cut short at the Bretton Woods institution and he was recalled by the government.
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