Gitanjali Gems and DB Corp

IN Media Watch Briefs | 13/03/2018
Guess which media group escaped being a victim of the Modi-Choksi fraud? The Bhaskar Group had a private treaty agreement with Gitanjali Gems which it ended in FY 2016-17.  As of March 2015, DB Corp owned 60,54,960 shares of Gitanjali Gems valued at Rs 24.95 crore, with each share valued at Rs 41.21 on March 31st. By March 31, 2016 their holdings came down to 52,01,055 shares valued at Rs 16.93 crore with each share now marked at Rs 32.55. During 2016-17 the entire shareholding was liquidated, because of a decision by DB Corp to exit  the  private  treaty  business.  But in that final year  of investment they made Rs.  11.87  crore  profit on their Gitanjali investment, Girish Agarwal said in a conference call with analysts in January this year.                 
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 A Hindu report datelined Karimnagar in Andhra Pradesh says a case has been registered  with Huzurabad police on March 17 against five persons for "manipulation, tampering, cheating, and  breach of trust for forcing the television viewers to watch particular channel serials by bribing them in order to increase TRP ratings  of particular channels." The ratings agency BARC had lodged the complaint.                     

Of all the resignations announced on Twitter, this one was the most curious: Nitin Sethi, deputy editor of the website,  announcing his resignation today, added a link to the last story he filed on the Adani Mundra port, setting off intense speculation in media circles that the Adanis were behind his exit. No one's talking as yet but with jittery media folk facing censorship from within and without, their antennae are quivering in curious anticipation.                      

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