New Delhi:Indian entrepreneur and member of Parliament Rajeev Chandrasekhar has resigned as the director on the board of ARG Outlier Asianet News Pvt Ltd, the company that owns Republic TV, the English television news channel headed by journalist Arnab Goswami.
“I have taken this decision because of my recent joining of BJP and being elected as a BJP MP,” Chandrasekhar said in a statement.
“In my career as an investor and entrepreneur, I have had the privilege of investing and building several successful companies and brands. The Media Tech investment in Republic ranks high amongst my many investments and it has been a pleasure to witness first-hand the amazing journey and growth over the first year of this exciting Media Tech brand and company under the leadership of Arnab and his team. Since I am now a member of the BJP, I believe it is in the best interest of Republic TV’s brand and team that I no longer serve on the board.”
Chandrasekhar joined the BJP last month and won the Rajya Sabha election with its backing soon after. He has served as a Rajya Sabha member twice before, first in 2006 and then in 2012 as an independent candidate, having received BJP support on both occasions.
The two companies invested in Republic TV are ARG Outlier Asianet News Pvt Ltd and SARG Media Holding Pvt Ltd. Chandrasekhar was a director of the former when it was incorporated in 2016 and invested about Rs30 crore through his company, Asianet Outline.
Chandrasekhar is the founder and chairman of Jupiter Capital Pvt. Ltd, a financial services and investment company, one of whose portfolio companies is Asianet. He’s also currently serving as a member of Parliament for the standing committee on defence, the consultative committee on finance, the central advisory committee for the National Cadet Corps and co-chairman of the District Development Coordination and Monitoring Committee for the Bangalore Urban District.
Republic TV is an English news channel incorporated in May 2017. It has topped the ratings chart since its debut.