Ravi Prakash demands royalty from ABCPL for use of TV9 logo
MUMBAI: Former TV9 CEO Ravi Prakash has claimed that the TV9 logo belongs and he should be paid a royalty by the new owners of Associated Broadcasting Company Pvt Ltd (ABCPL).
Prakash had released a video on Tuesday where he claimed that he had laid the foundation of the TV9 network 15 years ago for which he had worked hard to scale up.
On the allegations that he had stolen the logo and went into hiding, he asserted that TV9 logo was his identity, 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 a royalty to him,” he said.
The ABCPL management, he said, is denying him the royalty rights and instead filed false cases of cheating and forgery. “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.
Talking about the new investors of the company, 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 ABCPL.
“After Srini Raju exited from the company with a huge profit, 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 company with a majority stake in the company which was owned by Alanda Media & Entertainment, which is a Hyderabad based company incorporated in the year 2018 for the purpose of acquiring a stake in ABCPL.
The Cyberabad police had registered two different criminal cases against TV9 CEO Ravi Prakash for allegedly forging documents. The cases were registered based on complaints filed by Alanda Media & Entertainment Director Kaushik Rao. The company had removed Prakash from his position a day after a case was registered against him for alleged forgery.