Former CEO of TV 9 V Ravi Prakash released a video on Tuesday explaining his 'version' of the case. Speaking from an undisclosed location Ravi Prakash in the video claimed that he had laid the foundation of the TV 9 channel 15 years ago for which he had worked hard to scale up.
Talking about the investors of the company Ravi Prakash said that an agreement was signed between Krishna Reddy of Megha Engineering and Infrastructure Limited and Srini Raju who was then the majority shareholder in Associated Broadcasting Private Limited (ABCL), the promoting company of TV9.
“After Srini Raju exited from the company with a huge profit, and I was made to believe that four investors including Krishna Reddy of Megha Engineering would invest in the company for which I agreed,” he said.
But Ravi Prakash claimed that Jupally Rameshwar Rao of My Home Group effectively controlled the channel with a major stake in the company which was owned by Alanda Media Entertainment Private Limited.
On the allegations that he had stolen the logo and went into hiding, he asserted that TV 9 logo was his identity, that it was his own creation and product. Nobody had rights to use the logo except himself and if anybody had to use it they would have to pay royalty to him, he said.
This was a ploy by the management to deny me the royalty rights and instead false cases of cheating and forgery were filed against me, he said. These allegations are quite amusing to say that the creator of the logo was himself stealing the logo. They should have first known as to who had the rights to the logo before investing in the company, he said.
Meanwhile, Ravi Prakash has filed three petitions for anticipatory bail in the High Court which would come up for hearing today. What is interesting is the timing of the video and the High court hearing coming on the same day.
Also Read: TV 9 Fraud Case: Jolt To Sivaji By NCLT