Prannoy Roy and Radhika Roy, former owners and directors of the NDTV promotion group, have founded a new company called Ikroya Tech.
According to the Newslaundry report, the firm will focus on technology development and data analysis, with a particular emphasis on sectors such as environmental protection and pollution reduction.
Ikroya will also establish research laboratories and experimental workshops to promote research and award scholarships, grants and research prizes.
The company aims for global reach and is a 50-50 partnership between the Roys, with a share capital of Rs 10,00,000 divided into 1,00,000 capital shares of Rs 10 each.
Founders resign from NDTV board
Prannoy Roy and Radhika Roy, the founders and promoters of NDTV, have stepped down as directors of RRPR Holding Private Limited, the promoter group of NDTV
“NDTV has been informed by the vehicle of the RRPR Promotion Group Holding Private Limited (RRPRH) that the Board of Directors at the meeting held today, i.e., 29th November 2022, approved: 1. Appointment of Mr. Sudipta Bhattacharya (DIN : 0006817333), Mr. Sanjay Pugalia (DIN: 0008360398), and Mr. Senthil Sinniah Chengalvarayan (DIN: 02330757), as Directors of the RRPRH Board, effective immediately; and 2) Resignation of Dr. Prannoy Roy (ID: 00025576) and Ms. Radhika Roy (DIN: 00025625) as Directors of the RRPRH Board, effective as of the close of business hours on November 29, 2022”, said a letter by NDTV to the Bombay Stock Exchange.
According to the BSE website, Prannoy Roy is the Chairman of NDTV and Radhika Roy is the CEO. The RRPR at RRPR Holding Private Limited is named after the two Roys, Radhika and Pranoy.
The main development comes three months after the Adani Group, led by Gautam Adani, acquired a 29.18 percent stake in television channel NDTV Ltd, and said it would launch an open offer as required by the Stock Exchange Board and Securities of India (SEBI) to buy another 26 per cent in the company.
- Adani buys NDTV, But Why?
- Timeline: How Adani acquired NDTV?
- What Indian Journalists saying on Pranoy Roy’s exit from NDTV?
- Prannoy Roy and Radhika Roy resign: What is happening at NDTV
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