Promoter entity needs Income Tax dept nod for warrant conversion: NDTV

News network's founders Radhika and Prannoy Roy may individually require independent approval, it says

RRPR Holding, the promoter entity of New Delhi Television (NDTV) told stock exchanges on Thursday the move by Vishvapradhan Commercial (VCPL) to convert warrants into equity shares would "require approvals and/or clarifications from the Income Tax Authorities".

It also invited VCPL to join its application to the Income Tax authorities seeking clarification over the deal by the Adani Group to buy the popular news network.

"Equity shares of NDTV held by RRPR Holding were provisionally attached by the Income Tax Authorities in the year 2017, with notification in 2018 that the attachment shall remain in place until completion of reassessment proceedings," said