Yup it is indeed NDTV(New Delhi Television) Vs. IBN (CNBC - TV18)
Two cult figures of NDTV, Rajdeep Sardesai (Ex-NDTV) and Barkha Dutt. Both of them acclaims several credits for taking journalism in India deeper and better.
From what I read, a session in the popular program "The Big Fight" in NDTV caused tussle between Prannoy Roy and Rajdeep, and then Rajdeep made his mind to come out with his private channel partnering with the investors CNBC - TV18. He did so as said and is enjoying popularity as well especially the way IBN (technical setup) excels in the Internet news arena.
Well India faces a race in the news media I guess this was never the case before,(so the viewers gets a wider choice and various flavors) which is quite healthy it is like another Vs. like the popular battles of IBM Vs. HP, Google Vs. Yahoo, Oracle Vs. SAP, Intel Vs. AMD,...(only tech examples...)