Ravi Prakash is shunted out of TV9 and the new management has brought in a new CEO and COO to run the Operations. Alanda Media & Entertainment Pvt Ltd acquired 90.56% of TV9 Shares from Srini Raju. Alanda is owned by Jupally Rameshwara Rao who is rumored to be the Close-Aide of Telangana Chief Minister, KCR.
The Company Details Showcase that Jupally Rameshwara Rao is one of the directors. The Takeover has happened in August 2018 which means well before Telangana Assembly Elections. That means KCR wanted TV9 on his side before going to elections but Ravi Prakash delayed that until now.
In his letter after the Resignation, Ravi Prakash alleged that the Board was representatives of political honchos “who are out there to devour ‘every’ journalist and independent media house today.” Alleging an attempt to tarnish his image, Ravi said that the Board had manipulated the Telangana police to tarnish his image, and ultimately turn TV9 into another “political mouthpiece”.
Probably, by connecting the dots, TRS seems to be at the center of this controversy.
Read the full text of Ravi’s letter below.
The Board of Directors,
Associated Broadcasting Company Private Limited (ABCL),
# 97, Road # 3, Banjara Hills,
Hyderabad 500 034 Telangana.
Sub: Resignation to the position of CEO of TV9 Group of Channels owing to MALICIOUS ARM TWISTING, MISREPRESENTED & FALSIFIED Cases – REG
Dear Members of the ‘FORCED IN’ Board,
I, Ravi Prakash, the Founder & Chairman of TV9 Group of Channels, with great adieu wish to put on the following points before a simple line of RESIGNATION.
• You are representatives of political honchos who are out there to devour ‘EVERY’ journalist and independent media house today.
• You have not only threatened a professional ‘Company Secretary’ to falsely lodge a complaint on ABCL & its ‘Existing’ directors.
• You, with the support of a few members at the Registrar of Companies to enter ABCL as directors from the backdoor & take illegal control.
• You have ensued to file false complaints since I chose to be treated as a ‘JOURNALIST’ who created one of the most profitable media groups in the country today.
• You have not stopped even at pushing the Telangana Police which was at your disposal to try & achieve your goal of tarnishing my unscathed image, thereby in an effort to make TV9 another political mouth piece.
• You have violated stringent orders of the Honorable National Company Law Tribunal (NCLT) restraining the company to alienate its shares or assets of the company in collusion with the earlier promoter Mr. Srinivasa Raju of iLabs.
• You are representatives of Political ‘BUSINESS’ Houses, which are purely bent of illegal, pretentious & hostile ways of ruining Independent Media Houses to your benefit.
• You are members of ‘Alanda Media & Entertainments Private Limited’ which now has investments in businesses of the same order, surprisingly which do not come under the Competition Commission of India scanner.
• You have not stopped at using your existing mouth piece television channels to make scathing attacks on me while saying I have been absconding. While, I went on AIR yesterday evening to clear the air about such remarks, with due respect to the Honorable Courts of this country, I did not take any names.
• You have stooped down the level of hounding, harassing & ill-treating my colleagues purely for the sake of ‘FORCEFUL’ takeover of the company.
• You will continue to see me as a fellow shareholder & legal owner of my share of the company in the courts of law.
Hoping that the independent journalism I sowed will continue to flourish and work for the society, as always.