Adani Group Rejects SEBI's Nod Claim For NDTV Share Acquisition

The Adani Group, which is owned by Gautam Adani, has rejected the claim of the Securities and Exchange Board of India SEBI's approval for NDTV's share acquisition. The Adani Group has said that the RRPR is not part of the regulator's (SEBI) order. Adani Group's subsidiary VCPL has said that the ban imposed by SEBI on NDTV Group will not hamper the process of taking stake in NDTV. VCPL has termed the arguments raised by RRPR as "baseless, legally untenable and without merit", saying that the holding firm is bound to discharge its obligation immediately and allot equity shares.

Such warrant is specified in the exercise notice. In an update to the regulator, Adani Enterprises Limited said that VCPL has received a response from RRPR to the notice for warrant exercise dated August 23, 2022. This update states that RRPR is not a party to the SEBI order dated 27 November 2020. As per Paragraph 111(b) and 112 of the SEBI Order, the restrictions laid down by the RRPR are not applicable to him.

This update states that RRPR is not a party to the SEBI order dated 27 November 2020. Paragraphs 111 (b) and 112 of the SEBI order do not apply to the restrictions RRPR talks about. It also said that the warrant exercise notice to RRPR was issued on behalf of its subsidiary Vishwapradhan Commercial Private Limited (VCPL) under an earlier contract, which RRPR is obliged to fulfill.