NCLT dismisses Ravi Prakash, Sivaji’s pleas

Hyderabad: Brushing aside objections of former CEO Ravi Prakash and cine actor Sivaji, the National Company Law Tribunal (NCLT) at Hyderabad has allowed Saif Mauritius Company Ltd to withdraw the petition it filed against

TV9

group’s old management under Chintalapati Srinivas Raju.

The Mauritius company had filed a plea last year asking Raju and his firms, iVision and iLabs, not to sell the TV company to third parties without clearing its dues. Later, there was a compromise between these two parties. The dues were cleared and they filed a plea before the NCLT conveying their intent to close this litigation.

But both Ravi Prakash and Sivaji filed separate pleas raising their objections to end this litigation. They want the tribunal to stall the process of the new management to take over the TV group. The tribunal’s judicial member in his order said that when the two warring parties convey their intent to close the litigation, the NCLT cannot stall the same.

Interestingly, the NCLT judge in his order said that no one had represented Sivaji and Ravi Prakash in the last two hearings. “Ravi Prakash’s objections over his removal and other issues cannot be adjudicated in the current plea. In fact, he filed a separate plea before the NCLT challenging such aspects and the hearing in the same was stayed by NCLAT at Delhi,” the judge said and closed the Saif Mauritius plea. All the interim orders passed earlier shall also stand closed, the judge added.

Ravi Prakash and Sivaji filed separate pleas raising objections to end this litigation. They want the tribunal to stall the process of the new management taking over


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