NDTV promoter entity RRPR Holding Private Ltd. and Adani Enterprises Ltd. (AEL) subsidiary VCPL have written to markets regulator SEBI seeking clarification on whether any regulatory restrictions prohibit the news network’s founders from transferring shares amounting to a majority stake to Adani Enterprises. “VCPL has received a reply on behalf of RRPR whereby RRPR has reiterated that Mr. Prannoy Roy and Mrs. Radhika Roy [the network’s founders] are prohibited by SEBI, vide its order dated November 27, 2020, from accessing the securities market for a period of two years,” AEL said in a filing. “It further states that since SEBI alone can determine whether the restrictions contained in the SEBI order apply to the transaction, RRPR has addressed a letter dated August 28 to the SEBI to determine if the warrants can be converted into equity shares ahead of the November 26 deadline laid out in the SEBI order, and that any further action to be taken, can only be based on the SEBI response.” “VCPL has also written a letter dated August 29 to SEBI, requesting SEBI to help provide clarity... and avoid confusion in the minds of public shareholders of NDTV that has arisen due to the stand taken by RRPR and issue appropriate response to RRPR clarifying that the SEBI order does not restrain RRPR from allotting shares to VCPL,” as per the filing. On August 23, the Adani Group said it was acquiring a 29.18% stake in NDTV via the acquisition of VCPL, which came to hold 99.99% in RRPR Holding through conversion of warrants into equity. NDTV’s promoters have said the deal cannot go ahead without SEBI’s nod.