The announcement clears the air on where Pugalia was headed (speculation was that he might be joining Sahara Samay) as well as paves the way for the launch sooner rather than later of a Hindi language business channel by TV18.

Prior to his stint at Star, Pugalia was the executive editor of Zee News and before that executive producer of Aaj Tak. He has 22 years experience in print, radio as well as television journalism and spans both business and political reportage.

Welcoming Pugalia on board, Haresh Chawla, CEO, CNBC-TV18 was quoted in an official release as saying, "…CNBC-TV18's Hindi programming has received tremendous response from our audience, this will be further reinforced under his leadership. He brings with him a great deal of expertise in business and political reportage. We are certain that he will be an invaluable asset to our channel."

When asked by indiantelevision.com whether Pugalia's appointment pointed to the launch of TV18 Hindi business news channel in the near future, Chawla would not be drawn into a comment.

On his appointment, Sanjay Pugalia added, "Business programming in the Hindi language offers new and exciting possibilities and challenges. I am looking forward to joining the TV18 team shortly."

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