NDTV Narayan Rao

From: K V L Narayan Rao <[email protected] > Date: 21 June 2013 8:51:23 PM GMT+05:30 To: Sucheta Dalal <[email protected] > Cc: Debashis Basu <[email protected] > Subject: Re: A complaint about NDTV promoter shareholding lodged with RBI Dear Ms. Dalal, This has reference to the e -mail trail below and the letter dated April 27, 2013 addressed by Quantum Securities Pvt. Ltd. to the Reserve Bank of India. At the outset, it may be noted that Quantum and Sanjay Dutt have been making these false, baseless and scurrilous allegations against NDTV and it Promoters including RRPR Holding Private Limited, with various regulators and third parties like Bankers, independent directors on the Board, statutory auditors etc. We are in the process of taking appropriate steps against Quantum and Sanjay Dutt, including criminal action for defamation. Further, please note that this is the first time we have been made aware of the Complaint which is one among various complaints, correspondence and letters that Quantum, through Sanjay Dutt, has been sending, to various individuals including NDTV’s business associates, regulators and statutory authorities. It is evident that he has adopted this strategy to sully NDTV’s reputation and to discredit NDTV in its various business dealings. It is a lso evident that this is a personal vendetta against NDTV and its promoters as is explained below. Please incorporate by reference the contents of our e-mail dated June 20, 2013 found in the e-mail trail below, to give you a true perspective of Sanjay Dutt’s intentions and motive. It is evident that he has not been able to garner any support from the variou s other forums that he has approached and therefore, has decided to approach you with this false and baseless Complaint. NDTV categorically states that it has maintained the highest standards of corporate governance and respects the rights of all its s hareholders. Therefore, NDTV denies all the allegations contained in the Complaint, including alleged non-disclosure, mismanagement or any other illegality. It is pertinent to note that during his tenure with the Company, Sanjay Dutt was privy to sensitive and confidential i nformation, which he has indiscriminately used to malign the Company and to make allegations and insinuations regarding the financial transactions of NDTV and its promoters. He has gone a step further to allege that the financial decisions of the Company have been detrimental to its shareholders, which the Company strongly and vehemently denies. Please see below our comments regarding the various allegations made by Quantum against the Company in the Complaint. NDTV has at all times complied with all the demands for information that Quan tum, as its shareholder, is legally entitled to. In the capacity of a shareholder, Quantum has made demands to inspect the Company’s register of members and annual returns, which inspection has been pr ovided to Quantum as and when requested. Further, any request for copies of the foregoing documents has also been duly complied with. However, Quantum, through Sanjay Dutt, has been addressing incessant e-mails to various officers of the company including persons in management, seeking information which is beyond that which a shareholder is entitled to. Although this has been done under the guise of ‘shareholder activism’, it has been in the form of blackmail and corporate stalking. With respect to the allegations made out against the Promoters, Dr. Prannoy Roy and Mrs. Radhika Roy and RRPR, please note that all of the above are independent entities/individuals, information regarding whom are not ordinarily available with NDTV. The information provided below has been sought and received from RRPR. The Promoters have given us their response based on information in the public

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NDTV Narayan Rao