Ravi Prakash came up with a video message to explain what went wrong between him and Alandha Media which acquired 90.5 percent stake in ABCL. 'When I moved the proposal of establishing TV9, Srini Raju extended financial support. We made the media house No.1 at the time when other news channels were making losses and even expanded the operations. I couldn't say no when Srini Raju told he wishes to sell his stake to make profits. That is when Megha Engineering & Infrastructures Ltd (MEIL) head Krishna Reddy told he and his friends would acquire the stake owned by Srini Raju, but Ravi Prakash will have authority over the management. To my surprise, My Home Rameshwara Rao entered into the scene as majority stake holder. I moved a proposal of agreement between Myself & Rameshwara Rao but the My Home Group head rejected it. He asked Me to work as a servant or else threatened to send Me out of TV9,' he said.
Former TV9 CEO complained three false cases have been filed against him as if he is a terrorist.
1) Ravi Prakash-Shivaji Private Agreement: A case was filed over this agreement by Rameshwar Rao's Relative and Cops registered an FIR inspite of knowing that documents of the agreement are currently in National Company Law Tribunal (NCLT). How could an FIR be registered without the consent of the Court?
2) Forgery Case: I was accused of forging the signature of Part-Time TV9 Employee Devendra Agarwal to upload his resignation letter. The fact is that Rameshwara Rao's Close Aides kidnapped Devendra Agarwal and made him upload the names of new Directors in the website. Attempts made to upload failed as Devendra Agarwal tendered his resignation by then.
3) Sale of TV9 Logo: Ravi Prakash himself created TV9 Logo. They are accusing the creator and owner of stealing the logo.
Ravi Prakash alleged Hyderabad Cops have been behaving like employees of My Home Group and implementing the instructions of Rameshwara Rao. He also accused Cops of troubling his Family Members and Friends in the name of investigation.