Hyderabad: The National Company Law Tribunal (NCLT) gave a jolt to actor Sivaji who is one of the main accused in the TV9 fraud case along with the ex- CEO V Ravi Prakash. With the Delhi NCLT Appellate Tribunal issuing a stay in favour of Alanda Media Entertainment Ltd, the Hyderabad NCLT declared that they could not conduct any proceedings at this point of time.
Meanwhile Sivaji, who had earlier filed a petition, said that he was not aware of the changes made to Associated Broadcasting Corporation Ltd (ABCL) after the takeover, petitioned for a stay on all further operations of the company. Ravi Prakash had also filed sought a stay to the proceedings in his petition in the NCLT about Alanda Media Entertainment agreements made at the time of the takeover. The NCLT had taken cognizance of the petition and sent notices to eight people.
Alanda Media went in appeal to the NCLT Appellate in Delhi after conducting an inquiry. Subsequently, the Appellate issued a stay order on the Hyderabad NCTL until 9th of July.
Based on this stay order by the Appellate, the Hyderabad NCLT ordered that no proceeding should be affected and postponed the case to July 12. Both Ravi Prakash and Sivaji were absent during the proceedings and were represented by their lawyers.
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