SpiceJet's Ajay Singh set to take control of NDTV

How Ajay Singh who was rumoured to buy NDTV turned Spice Jet back into shape

The Roys and the channel's promoter firm RRPR Holding Pvt Ltd are facing a Central Bureau of Investigation (CBI) investigation for allegedly concealing a share transaction.

The IE article said that the founders will be reduced to minority shareholders with just 20 percent shares, while SpiceJet co-founder Ajay Singh will hold 40 percent shares.

A Senior official from NDTV has denied reports that SpiceJet's owner and co-founder Ajay Singh was set to take over the leading channel.

The CBI conducted searches in Roy's residence on June 5, where NDTV stood up for their owners and called the raids a "blatant attack on the freedom of the press", in a statement. Refuting the allegations, NDTV had said that the CBI had filed its FIR based on a complaint by a "disgruntled" former NDTV consultant.

Ajay Singh bought grounded ModiLuft and then renamed it, and relaunched it as Spicejet.

Carmelo Anthony expected to be at media day, set good example
But it still appears the Knicks have some fences to mend with Porzingis. "KP and I have a good relationship, " Hornacek said. That's one thing I've always respected about him. "I think in our position you always keep an open mind, '" Perry said.

"Yes, the deal has been finalised and Ajay Singh will take control of NDTV along with editorial rights", the paper quoted a source as saying. The report also suggested that the Spicejet head will also pick up INR 400 crores worth of debt.

Until June, the promoters owned 61.45% stake in NDTV, while public entities held 38.55% stake. The total deal is valued at about Rs 600 crore.

It has, however, turned the spotlight firmly back on Ajay Singh, just a few months after he made headlines when Bloomberg crowned the once-ailing SpiceJet the top performing aviation stock in the world. Singh is a known supporter of the ruling BJP and has been even part of the party's 2014 election campaign. Singh also served on the Board of Delhi Transport Corporation, also prepared a plan to revamp it, and after two-and-a-half years, the fleet rose from 300 to 6000.

The same report, carried on Sify.com too, noted that according to SpiceJet's annual report for 2007-08, Singh was chairman of the audit committee of Cranes Software, now a penny stock.

Related News:

  • Ram Rahim used to organise 'Bigg Boss'-like show: Honeypreet's ex-husband

    Ram Rahim used to organise 'Bigg Boss'-like show: Honeypreet's ex-husband

    News Agency ANI reported Vishwas Gupta saying, "In no way is Honeypreet Ram Rahim's daughter, no legal adoption was done". The duo were booked for sedition. "Yes, I'm playing Honeypreet as I have known her for seven to eight years".
    Kardashians' Dash Boutique Attacked by Woman Wielding a Gun and Machete

    Kardashians' Dash Boutique Attacked by Woman Wielding a Gun and Machete

    According a Fox News reporter, Medrano continued to ramble about Cuba before leaving the machete at the door of the store. Ina Treciokas, a spokeswoman, for Kim Kardashian West , declined to comment on the incident.

    Iranian officials, social media users get right back at Trump

    He said he looks forward to discussing "the way we can seize the opportunity for peace between Israel and the Palestinians and between Israel and the Arab world".
  • Mattis explains why the United States  isn't shooting down North Korean missiles

    Mattis explains why the United States isn't shooting down North Korean missiles

    On Monday, China Daily said sanctions should be given time to bite but that the door must be left open to talks. The report did not directly link them to current tensions over North Korea.
    CVS becomes first national chain to limit opioid prescriptions

    CVS becomes first national chain to limit opioid prescriptions

    Pharmacists will be asked to contact doctors when prescriptions appear to offer more medication than needed. President Donald Trump also recently announced plans to declare the opioid crisis a national emergency.
    Sensex drops 232 points on rupee slipping to 4-month low

    Sensex drops 232 points on rupee slipping to 4-month low

    At 9.40 AM: Sensex fell over 256 points or 0.79% to 32,113.58 while Nifty was down by over 88 points or 0.87% at 10,033.75. For the week, the Sensex slipped 1.08% and the Nifty dropped 1.2%, losing the most among major Asian markets.
  • Ranbir Kapoor and Mahira Khan rumoured couple dating in NY

    Ranbir Kapoor and Mahira Khan rumoured couple dating in NY

    Last time we saw them together was when a video of Mahira pleading with Ranbir for something went viral on social media. He will next feature in the untitled Sanjay Dutt biopic , which is being directed by Rajkumar Hirani.
    U.S.  open: Stocks edge higher ahead of Fed

    U.S. open: Stocks edge higher ahead of Fed

    By the end of its session, the KOSPI added almost 1.4 percent to ₩2,418.21, its highest level since August 3. The euro rose 0.1 percent to $1.1999 while the yen rose 0.1 percent to 111.44 per dollar.
    Mobile, Sprint in Talks About a Merger

    Mobile, Sprint in Talks About a Merger

    That would be the opposite of how things were going in 2014 when Sprint was attempting to buy T-Mobile. T-Mobile's owner, Deutsche Telekom and the rest of T-Mobile shareholders, will take over the majority.
  • Why Emma Stone looks naked next to Hillary Clinton

    Why Emma Stone looks naked next to Hillary Clinton

    Emma Stone has been open about everything from the sexism she's faced in Hollywood to the mental health struggles she's overcome. However, the style of her pink dress meant she was left looking naked as she held up a top while posing alongside Hillary.
    Asylum Seekers To Be Sent To The US

    Asylum Seekers To Be Sent To The US

    Mr Turnbull reiterated that none of the refugees who were on the Pacific islands will be eligible for resettlement in Australia. Prime Minister Malcolm Turnbull has confirmed this morning that the USA will honour an agreement to take on asylum seekers.
    New Addition to Brigham Young University's Cafeteria

    New Addition to Brigham Young University's Cafeteria

    Whether it's been an espresso-laced coffee or a cold Coca-Cola, caffeinated drinks have fueled campuses for decades. Even after that, BYU, which is owned and operated by the Mormon Church, declined to sell the soft drinks.


Most liked

Two militants arrested in J&K
Earlier police had denied that the SSB personnel had been attacked by militants. IGP S D Singh Jamwal briefing media at Jammu .

Here's why Ellen DeGeneres won't invite Donald Trump onto her show…
ET program " Megyn Kelly Today " is set to launch on NBC as the third hour of "The Today Show" on Monday. She furthermore added: 'Now I'm going to get bad tweets! This wasn't the life I wanted.

Former PM Tony Abbott headbutted by same-sex marriage supporter
The man, who identified himself to reporters as Astro Labe, was released on bail until a court hearing next month. Earlier police said they had spoken to several witnesses and seeking CCTV from the waterfront area.

Every Matthew Vaughn Movie Ranked From Worst To Best
All combined are at odd with the Golden Circle , led by the lead villain, Academy Award Winner Julianne Moore ("Hunger Games"). And judging by the results of this sequel, "when" would have been the closing credits of the first film.

Lenovo To Launch The Moto X4 In India On October 3
The connectivity options in the Moto E4 Plus include 4G VoLTE, Wi-Fi 802.11n, Micro-USB port, GPS, Bluetooth v4.1, and 4G support. The device is powered by a 3,000 mAh battery and comes with Motorola's Turbo Charger for quick charging.

Thousands Evacuated Near Bali Volcano Over Eruption Fears
A man observes the Mount Agung with binoculars at a viewing point in Bali, Indonesia, Wednesday, Sept. 20, 2017. Tremors have been reported, and there are indications that magma is rising to the surface, the officials say.

Videos Show Erdogan Supporters Beating Protesters At NYC Speech
The violence was captured on video by people who were at the event as well as news agencies that were covering Erdogan's speech. That attack and the subsequent charges strained the relationship between Washington and Ankara , already tested by Mr.

Death threats as Catalan referendum debate turns ugly
Sturgeon's National Party has formerly called for a fresh vote on independence before Britain leaves the European Union (EU). Some 2,000 students are staging a separate pro-referendum demonstration at one of Barcelona's main universities.

'Indian shooting' kills six Pakistanis across border
Sources in North Block said that Major General Mirza rised the killing of civilians in Pakistan . Army retaliated the fire and intermittent firing was going on in the area, reports added.

Ghani and Trump agree rare earth minerals to boost national security
Last month, Trump had issued the sternest warning yet by an American leader to Pakistan for providing safe havens to terrorists. The U.S. also has threatened to withhold military aid from Pakistan.

Kylie Jenner's Due Date for First Pregnancy Is in February!
Then on Life Of Kylie back in July she claimed was ready to get out of the spotlight and have a more normal life. The 20-year-old reality star and makeup mogul is expecting her new addition in February, according to People .

18-yr-old man charged with London Tube terror attack
The men, aged 21 and 48, were arrested in Hounslow, west London on Saturday and Newport , south Wales, on Wednesday. An 18-year-old refugee from Iraq and a 21-year-old from Syria who were arrested previously remain in custody.

India bound by law not to deport Rohingyas
The Union Minister further said that the Centre will take a decision, which will in the nation's interest, on the Rohingya matter. Without legal rights, he says, the Rohingya struggle to find employment and are vulnerable to abuse by criminal gangs.

Iran needs defensive weapons to protect nation: Rouhani
Trump must decide by Oct 15 whether to certify that Iran is complying with the pact, a decision that could sink the deal. French President Emmanuel Macron told reporters it would be a mistake to pull out of the pact.

Packers Question of the Day: Expectations for Sunday
Now, they will be without defensive tackle Mike Daniels , who suffered a hamstring injury during the first possession of the game. Green, who has had over 950 receiving yards in every season of his career and is a huge target in the red zone.