Business Standard

TV9's new management sacks Ravi Prakash as CEO

IANS  |  Hyderabad 

The new management of multilingual television news channels on Friday sacked and M.K.V.N Murthy, both whole-time directors and and CFO respectively.

Media & Entertainments Pvt Ltd, which acquired 90.54% stakes in (ABCPL), the owner of the group of channels, appointed Mahendra Mishra, the of Kannada, as the

The also appointed as the new Rao is currently of channel 10TV.

Board executive S told reporters that the board's decision was endorsed by the meeting of shareholders. Ravi Prakash, who still holds shares in the company, did not attend the shareholders meeting.

Meanwhile, wrote a letter to the new alleging that they were trying to trouble him by using their political influence. He said the board was working to destroy journalism with the political interference.

Ravi Prakash, who had been heading TV9 channel since its launch in 2004, alleged that board coerced the company to lodge a false complaint of forgery against him.

"As a fellow shareholder, I will continue to be beside you. My fight will continue", he wrote to the management.

Friday's developments came a day after revealed that it has booked two criminals cases against Ravi Prakash, Murthy and on two complaints by

The police conducted searches at the residences of the trio and at TV 9 office in and seized some hard disks and documents. They were charged with forgery, cheating and criminal conspiracy.

The cases were a fallout of Ravi Prakash's rift with after it acquired majority shares in ABCPL in August 2018 and nominated four persons to be appointed as directors on the board.

Alanda alleged that and Murthy failed to file a form with the of Companies (ROC) confirming their appointment. "They also removed the company by forging his signature so as not to upload the names of new directors with the ROC," said Alanda.

It alleged that they had malafide intention of not allowing Alanda to participate in the management of the ABCPL through its new directors.

It said the duo also filed false cases against directors before (NCLT).



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 10 2019. 23:34 IST