Raghav Bahl, the controlling shareholder and managing director of Network 18 Group has quit the company.

This news came is as a shock to all the employees of the Network 18 Group but then Raghav Bahl in a mail to his staff, stated that he would be around to ensure a smooth transition.

Now this comes close to the Network 18 Group losing both B. Sai Kumar, Group Chief Executive Officer of Network 18 and the Chief Operating Officer, Ajay Chacko.

Raghav Bahl has also been instrumental in crafting successful joint ventures with media giants like CNBC, NBC Universal, Viacom, Time Warner, Forbes, A&E Networks and GS Homeshopping (Korea).

Raghav Bahl began his career as a management consultant with A.F. Ferguson & Co. followed by a stint with American Express Bank before he launched TV 18, his production house that was initially based out from Delhi.

Winner of the Sanskriti Award for Journalism in 1994, Raghav Bahl has over twenty four years of experience in television and journalism.

However the buzz is that the recent exodus is a result of Reliance Industries acquiring controlling stake in Network 18.