In what can be termed as a major development in the Telugu Media Space, TV9 Board has shown door to the Channel CEO Ravi Prakash with the allegations of funds misuse and forgery allegations. Alanda Media Entertainments took over TV9 purchasing 90% Stake from Srini Raju's ABCL Corporation. Alanda Media tried to have new directors in the Channel Board.
But Ravi Prakash who holds 8% stake in the company has not agreed to it and has complained to the National Company Law Tribunal. Now, Alanda lodged a case on Ravi Prakash alleging funds misuse and forgery. In the name of this case, he is shunted out of the company. Police are after Ravi Prakash and he is currently absconding.
Since the start of the channel. Ravi Prakash who is the Minor Stake Holder in the Channel has the control of the editorial team but the new company is not keen on that which did not go well with him. It has to be seen if this controversy will pull down TV9 from The Number One Position which it has been holding for years now.
