BBC ex-staffers' firm collective newsroom ropes in MSKA & Associates as statutory auditor
BBC India comply with foreign direct investment (FDI) norms in digital news, has appointed CA firm MSKA & Associates as its first statutory auditor, the company's regulatory filings show.
MSKA & Associates will audit the newly formed company's annual accounts for FY24. Incorporated on October 27, the New Delhi headquartered company has two directors, Rashi Sehgal and Prabhkirtan Singh Sehgal.
Four BBC staff members-Rupa Jha, Mukesh Sharma, Sanjoy Majumder, and Sara Hassan-left the company on December 12 and formed Collective Newsroom to allow BBC World Service India to comply with the 26% limit on foreign ownership in India.
ET had first reported that BBC World Service India is restructuring its shareholding to meet the foreign ownership norms.
The BBC has given Collective Newsroom the responsibility of creating digital content in India, its six Indian language services, and an English-language YouTube channel for Indian viewers across the globe.
The BBC provides content in six Indian languages, including Hindi, Marathi, Gujarati, Punjabi, Tamil, and Telugu.
In a statement this week, the two companies said that the new arrangement complies with the FDI law.
Collective Newsroom has been established as an Indian company, wholly owned by Indian citizens, with four existing staff members leaving BBC to lead the firm.
Announcing the formation of Collective Newsroom, BBC News Deputy CEO Jonathan Munro said that the new company will carry forward the BBC's tradition of serving audiences in India.
