NDTV appoints former SEBI chairman U.K. Sinha, Welspun India CEO Dipali Goenka as independent directors

Upendra Kumar Sinha. File.
| Photo Credit: Kamal Narang

Former Securities Exchange Board of India (SEBI) chairman Upendra Kumar Sinha has been appointed as an independent director and non-executive chairperson of the NDTV board of directors, the company informed stock exchanges on March 27.

Welspun India CEO Dipali Goenka has also been appointed as an independent director on the board of NDTV.

“In line with the Adani Group’s objective to ensure NDTV’s independence and professionalism, U.K. Sinha and Dipali Goenka have been appointed Independent Directors of NDTV for a period of two years effective March 27, 2023, based on the recommendations of the Nomination and Remuneration Committee, and subject to the approval of shareholders and Ministry of Information and Broadcasting. U.K. Sinha has also been designated as Non-Executive Chairperson of NDTV,” the company said in its official communication.

U.K. Sinha had served as the Chairman of SEBI between 2011 and 2017. He was also Joint Secretary in the Ministry of Finance and overlooking the Banking and Capital Markets Divisions. Mr. Sinha joined the Indian Administrative Service in 1976. He holds a M.Sc. and LLB degree.

Dipali Goenka is the Chief Executive Officer and Managing Director of Welspun India Limited. She was the chairperson of ASSOCHAM Women’s council and is currently on board of Consumption platform at World economic forum. She is a graduate in Psychology and a Harvard alumnus, the company said in its statement

The Adani Group on December 30, 2022 acquired 27.26% equity stake in NDTV from Prannoy Roy and his wife Radhika Roy — founders of the news broadcaster.

Adani Group acquired a 29.18% stake in NDTV by buying a company backed by the television network’s founders, Ms. Radhika Roy and Mr. Prannoy Roy. Thereafter, it made an open offer to acquire an additional 26% from public shareholders.