Ajay Singh, who is the chairman and managing director of SpiceJet will have controlling stake of around 40% in NDTV.
SpiceJet co-founder Ajay Singh is set to take control of NDTV, according to Indian Express report.
On June 5, CBI had carried out searches at the residence of NDTV founder Prannoy Roy in New Delhi and in Dehradun for allegedly causing loss to a private bank. NDTV held the move as a "blatant attack on the freedom of the press" and claimed that the CBI had gone ahead with its investigation on a "shoddy complaint" by a "disgruntled" former NDTV consultant.
"Not even a single sentence of these reports is true", a senior NDTV official told The Hindu.
According to the data available with BSE, the promoter holding in NDTV as of June 2017 stood at 61.45 percent.
However, when asked about the deal, a SpiceJet official rubbished it as "absolutely false and baseless". Mr. Singh will take control of around 40% stake, and the Roys will hold almost 20% in the NDTV.
The source also said that Ajay Singh will take over the ailing media channel's debt of over Rs 400 crore.
Ajay Singh is the co-founder and present owner of Indian low-priced airline SpiceJet. However, since the global financial crisis, which also resulted in a correction in both the media and stock markets in India, the stock has been in the Rs 100 range. As part of Narendra Modi's election war room in 2014, Singh, is said to have coined the campaign slogan, "Abki baar Modi sarkar", reported Hindustan Times. Singh played a role in 2014 Lok Sabha campaign of the BJP as part of the core advertising/campaigning team.