Adani group says regulatory curbs don’t prohibit bid to take over NDTV

India’s Adani Group stated on Friday that regulatory restrictions imposed on New Delhi Television Ltd’s (NDTV) founders don’t have an effect on the conglomerate’s try to purchase a majority stake within the information community.

NDTV on Thursday sought to dam tycoon Gautam Adani’s transfer, saying its founders Prannoy and Radhika Roy have since 2020 been barred by the Securities and Exchange Board of India (SEBI) from shopping for or promoting shares in India’s securities market. NDTV stated a deal between the Roys and Adani would require approval from SEBI, the market regulator.

On Friday, Adani Enterprises argued in a press release that NDTV’s high shareholder, an funding automobile which is held by the Roys and which is the topic of the Adani bid, was not coated by the SEBI order, which means the takeover provide can proceed with out particular SEBI approval.