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NDTV appoints ex-SEBI chief U.K. Sinha, Welspun CEO as independent director

March 27, 2023 10:41 pm | Updated 10:42 pm IST - New Delhi

The appointments are subject to approval in the ensuing general meeting of the company and the Ministry of Information & Broadcasting

Adani group-owned NDTV Ltd. on Monday said it has appointed former SEBI Chairman Upendra Kumar Sinha and Welspun India Ltd. CEO and MD Dipali Goenka as Independent Directors.

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The Board has approved the appointment of Mr. Sinha and Ms. Goenka with immediate effect, said a regulatory filing by the news broadcaster.

Both of them have been appointed as Additional Directors in the capacity of Non-Executive Independent Directors with effect from March 27, 2023, for two years, up to March 26, 2025, NDTV said.

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The appointments are subject to approval in the ensuing general meeting of the company and the Ministry of Information & Broadcasting, it added.

The board approved their appointments "in line with the Adani Group's objective to ensure complete independence and professionalism of the Board of Directors of New Delhi Television Ltd", the filing added.

Sinha, a former bureaucrat, served as the Chairman of the Securities and Exchange Board of India (Sebi) between 2011 and 2017.  Before this, he was the Chairman and Managing Director at UTI Asset Management Company Pvt Ltd for six years.  While Goenka is the Chief Executive Officer and Managing Director of the leading textile firm Welspun India Ltd.

Last year in December, Adani group gained full control of news broadcaster NDTV after it acquired most of the stake of founders Prannoy Roy and Radhika Roy at a premium of almost 17% over the rate it paid to minority shareholders of the firm.

The Adani Group holds over 64% of New Delhi Television Ltd. (NDTV).

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