Saturday, April 17, 2021
Home News Reports NDTV in the dock : SEBI imposes fine on the channel and its executives...

NDTV in the dock : SEBI imposes fine on the channel and its executives for disclosure lapses

Market regulator SEBI (Securities and Exchange Board of India) has imposed a penalty of Rs. 10 lakh on NDTV and Rs. 3 lakh each on four individuals, including promoters Prannoy Roy and Radhika Roy for certain disclosure lapses. This order is preceded by a probe by SEBI into the alleged delay in disclosure of income tax demand of about Rs. 450 crore, which has subsequently been challenged by NDTV, regarding the sale of some shares by a top company executive over four years ago.

In the order dated 16th March, the SEBI imposed a penalty of Rs. 10 lakh on NDTV and Rs. 3 lakh each on Prannoy Roy, Radhika Roy, Vikramaditya Chandra (Group CEO back in 2014) and Anoop Singh Juneja (Compliance Officer). The SEBI said there were allegations against K V L Narayan Rao, NDTV’s Executive Chairman, but proceedings against him were dropped after his death last year. The investigation by SEBI was conducted based on a complaint from Quantum Securities, a shareholder with NDTV, that the company did not disclose the order of the income tax department, within two days of receipt of information, to the stock exchanges.

Quantum Securities, had been associated with NDTV since 2006, but had a fallout with it within two years, following which the owners, Sanjay Dutt and his partner Sanjay Jain, have filed a series of complaint against NDTV’s promoters with the income tax department, SEBI, Ministry of Corporate Affairs and the Enforcement Directorate alleging fraud, money laundering and FEMA violations.

In the said order, the SEBI has said the persons in charge of a company or principal officer are liable for the compliance of clause 36 of the listing agreement, which makes it mandatory for a listed company to disclose any information which is share-price sensitive. The order said that the above four persons have violated the listing agreement and therefore, liable to pay penalty.

Earlier, NDTV has already been penalised Rs. 2 crores through a different proceeding with respect to non-disclosure of the said income tax demand of Rs. 450 crore.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

TMC’s Derek O’Brien opposes EC’s Covid campaign restrictions, says new rules very suitable to ‘Lutyens bungalow’ residents

TMC leader Derek O'Brien criticized the Election Commission's new Covid restrictions in a press conference today.

EC extends election campaign ban before polls in West Bengal to 72 hours, no campaigning allowed after 7 PM

In view of the worsening Covid-19 crisis in the country, the Election Commission has extended restrictions on campaigning for polls

BLM co-founder attempts to defend herself from criticism over buying property worth over million dollars, netizens point out Marxist hypocrisy

BLM co-founder Patrisse Khan-Cullors has been heavily criticised recently for buying a series of properties worth millions

Shekhar Gupta’s ThePrint accuses the centre of issuing diktats to states on COVID-19, which is far from the truth

ThePrint ignores that apart from the initial nationwide lockdown, centre has given every flexibility to states on the ward against COVID-19

Rally of dead bodies, threats against CRPF, lying and scaring with ‘detention camps’ so people don’t vote: What viral audio of Mamata Banerjee means

Mamata Banerjee was heard telling TMC worker Partha Pratim Roy to organise a political rally with the dead bodies to stir public sympathy

US intelligence backtracks on Russian bounty claims, here is how media ran unfounded stories to damage Trump’s re-election bid

A June 2020 article in NYT had claimed that Russia is offering money to Taliban-linked terrorists to kill US soldiers, a claim that has now been discredited.

Recently Popular

Aaj Tak to air public apology on 23rd April for sharing fake news on Sushant Singh Rajput, pay Rs 1 lac fine: Details

Aaj Tak has been asked by the NBSA (News Broadcasting Standard Authority) to air a public apology for fake news on Sushant Singh Rajput

Karan Johar’s Dharma Production fires Kartik Aryan, not to work with him again: Here is what happened

Dharma Productions said it was pushed to the wall by “unprofessional behaviour” of Kartik Aryan during shooting of Dostana 2

Andhra Pradesh man hacks family of six including two children to avenge the rape of his daughter: Details

Andhra Pradesh police confirmed that the incident was a fall out of a old feud between the accused and the victim family

Pakistan on the verge of civil war as it bans TLP for violent protests over the arrest of its leader and Muhammad cartoons in...

Pakistan Government has taken the decision to ban Tehreek-i-Labbaik Pakistan (TLP) for their violent protests in the country

TMC’s Mahua Moitra claims wishing Hindus on Hindu new year is ‘radicalisation’

While Moitra wanted to paint everyone who was celebrating the Hindu new year as 'radical', the hate for Hindus was actually more evident in her tweet.

Missionaries converted over 1 lakh people amidst the pandemic, claims to have planted more churches than all the 25 years of their work in...

Missionaries claim they used the distress faced by poor people during the lockdown to convert them to Christianity and build more churches
- Advertisement -

 

Connect with us

254,077FansLike
529,591FollowersFollow
24,200SubscribersSubscribe