7/27/2019 NDTV Narayan Rao1
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From: K V L Narayan Rao Date: 17 July 2013 4:10:41 PM
GMT+05:30To: Sucheta Dalal Cc: Debashis Basu Subject: Re: Legal
notice to Sanjay Dutt
Dear Ms. Dalal,
This has reference to e-mail below.
We had earlier written to you with the details of the background
of Mr. Sanjay Dutt and his continued slur
campaign against NDTV and its Promoters. We had also apprised
you that the Company has allowed Sanjay
Dutt every possible opportunity to withdraw his scurrilous
allegations against itself and its Promoters.
However, in view of his continued actions against the company,
in writing not only to the regulators, but
also to Bankers, Merchant Banker, Statutory Auditors,
Non-Executive Independent Directors and past
Directors of the Company, and the media, we were left with no
option but to take steps to restrain him from
continuing with his wrongful actions. The legal notice served on
him, through our counsels Amarchand
Mangaldas is the first step in the process. It may be noted that
the notice has been served on Sanjay Dutt and
Quantum Securities in view of his/their reckless and
irresponsible actions of approaching third parties withbaseless
allegations against NDTV and its Promoters. We propose to take
further action, as advised by our
counsels. We are cognizant of Sanjay Dutts rights, on behalf
ofQuantum Securities, a Shareholder of the
Company. We have been and will continue to honour all our legal
obligations towards our shareholders,
including Quantum. However, we strongly believe that his actions
against the company and its promoters
beginning 2011 September result from a motive of vendetta
arising out of his past association with the
Company.
With respect to the settlement discussions with Sanjay Dutt, you
may recall that in our previous emails we
have shared with you the details of Sanjay Dutts association
with the Company as a remunerated consultant
and pursuant to which ESOP shares in certain subsidiaries of
NDTV had been granted to him. Sanjay Dutt
had to forfeit the aforesaid ESOP shares on account of him not
having met the conditions subject to which
the said shares were allotted, one of them being continued
association with the Company for a period of 45
months following the grant of the ESOP shares. Sanjay Dutt has
had a grievance against the Company since
then.
In 2010, Sanjay Dutt had approached us to discuss the aforesaid
grievance and we had, in view of the past
relationship, agreed to discuss the matter. Several meetings
were held over two months to understand his
problem and see whether there were any bonafide claims and if a
solution was possible. When these did not
result in anything, we tried to suggest third party mediation.
However, Sanjay Dutt was not keen to discuss
the matter with a third party and the aforesaid discussions were
not taken forward. Subsequent to this, in
September, 2011 he started his vindictive campaign against the
Company and its Promoters. Even here, weentered into good faith
discussions with him to try and solve his problems, including an
offer of third party
mediation which was rejected by him. Every time his personal
issues don't get resolved, he embarks on an
onslaught against the company and its promoters.
Early this year when Sanjay Dutt again intensified his tirade
against the Company and Promoters, we wrote
to another director of Quantum, Mr Om Arora, asking whether they
were aware of what Sanjay Dutt was
doing. On getting no response, we requested our lawyer, Mr
Rajshekhar Rao, to speak to him. This
conversation took place on May 15, 2013. After the conversation,
Mr Arora indicated to our lawyer that all
issues could be solved "amicably" and that Sanjay Dutt had a
"wounded heart" resulting from his association
with NDTV. Based on this, I personally made several efforts to
meet with Mr Om Arora, with no
luck. Later, I received a letter from Mr. Om Arora and Sanjay
Dutt saying that the latter had been authorisedto discuss all
matters relating to Quantum and that Mr Arora would not meet me on
the subject.
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