TV9 CEO Ravi Prakash’s issue has been dominating the news cycle for last few days. After Ravi Prakash has resigned from TV9, people are curious to know his whereabouts and also about a bunch of allegations were levied against former CEO of Tv9.There has been no response from Ravi Prakash’s camp and this has caused a one way news cycle without any reponse from other party. Telugu360 tried to get in touch with some current employees of TV9 to get other side of the coin
Allegation -1 : Ravi Prakash forged company secretary Devender Agarwal’s signature
Rebuttal – Devender Agarwal has resigned as company secretary of ABCL on March 28th 2019 . TV9 directors approved his resignation after multiple requests from Devender. Ravi Prakash’s camp alleges that directors made a futile attempt to upload new directors through Devender Agarwal, at 2:30 AM in the morning, but were unsuccessful as his resignation was already in effect. Ravi Prakash camp alleges that the new management updated directors through backdoor method. Where is the case for forgery here asks Ravi Prakash’s camp? In fact, they contend that it is new management team that has to be under the scanner as they updated new directors through backdoor.
Allegation – 2 : Share transfer agreement with Sivaji
Rebuttal – Share transfer agreement between Sivaji and Ravi Prakash is a completely private party transaction. Ravi Prakash’s camp argues how does it matter to new directors on how this transaction was executed. It could have been just a word of mouth, white paper or demat and it is completely up to the two persons involved in the transaction on how they want to execute this.
Allegation – 3: Funds transfer to MOJO TV
Rebuttal — Marketing team in TV9 tell telugu360 that there was an official agreement between TV9 and MOJO TV and since TV9 is the No #1 Telugu channel it frequently has ‘spill overs’. In these cases, TV9 sells these additional ad inventory to MOJO TV at a 10% commission. Today tv9 owes payments to MojoTV. The TV9 team also informed that MOJO TV management was very upset with such false and baseless allegations where the transaction was fully documented on both sides.
Allegation – 4: TV9 Bharatvarsh funds
Rebuttal — Ravi Prakash’s team tell that they were able to launch Bharatvarsh with half the budget they initially projected. In fact, Ravi Prakash team contends that they were able to bring buzz to the channel by inviting Modi to inauguration due to Ravi’s connections.
Also, Ravi Prakash’s camp contends that they were blindsided by myhome’s investment into TV9. Megha approached Ravi Prakash with a minority investment into TV9 and later Myhome related persons entered into the deal contents Ravi Prakash’s team.
Will Ravi Prakash come out and tell his side of the story ? Wait and watch in next few days.