TV9 CEO Ravi Prakash removed day after cheating charge jolt

HYDERABAD: A day after Cyberabad police registered cheating and forgery cases against CEO of television channel TV9, Ravi Prakash, the board of directors of Associated Broadcasting Private Limited (ABCPL) on Friday announced that Prakash and chief financial officer MKVN Murthy were removed from their posts with immediate effect.
ABCPL has decided to appoint Mahendra Mishra as the interim CEO till a full-time CEO is appointed. He was handling the channel’s Karnataka operations. Singa Rao, a media management professional, has been appointed COO.
"Ravi Prakash and Murthy are no more whole-time directors of TV9. Banks, public institutions, media and the public at large are notified not to deal with them or act on any of their instructions," said ABCPL’s press release.
Alanda Media & Entertainment Pvt Ltd acquired 90.54% shares in ABCPL in August last year. Alanda, on becoming majority shareholder, has nominated four persons — P Kaushik Rao, Jupally Rameshwar Rao, Sambasiva Rao Sangu and Srinivas Rao Aravapalli as directors on the board of ABCPL
“Prakash and Murthy not only failed to file the form DIR-12 with the Registrar of Companies (RoC) confirming their appointment, but also removed the company secretary by forging his signature so that the names of the new directors are not updated with the RoC," said Sambasiva Rao, one of the directors.
"The duo had also filed wrong cases against new directors and colluded with third parties for filing wrong cases against the company, creating a situation so that the new directors would not be able to function properly," Sambasiva Rao alleged.
After two board meetings were held on Wednesday and Friday, a resolution was passed revoking all powers vested with Ravi Prakash and Murthy, while Alanda and its nominee directors had taken over the management of TV9.
Prakash, who sent his resignation letter to ABCPL on Friday, alleged that the directors threatened the company secretary to lodge a false complaint against ABCPL and its existing directors.
Meanwhile, in response to the notices issued by Cyberabad police in relation to the two cases booked against them, Murthy appeared before the police on Friday, while Ravi Prakash and actor Shivaji sought 10 days’ time.
"Murthy is being questioned and he will be called again. Ravi Prakash and Shivaji sought 10 days’ time to appear before the investigation officer. The investigation officer will decide whether they have to appear immediately or not," Cyberabad commissioner V C Sajjanar said.