Home Media After barring NDTV from accessing capital markets, SEBI imposes penalty of Rs 12 lakh for non-disclosure of information

After barring NDTV from accessing capital markets, SEBI imposes penalty of Rs 12 lakh for non-disclosure of information

Earlier this week, the SEBI had barred NDTV's three key promoters - Prannoy Roy, Radhika Roy and their holding firm RRPR Holdings from accessing the capital markets for two years and also restrained the two individuals from holding any board or top management role at the company in this period. 

In yet another setback for controversial media group NDTV, SEBI has imposed a penalty of Rs. 12 lakh on New Delhi Television Ltd (NDTV) for failing to make timely disclosures to the stock exchanges.

Reportedly, the order comes after the SEBI noticed multiple disclosure lapses by NDTV and noted non-compliance with the Substantial Acquisition of Shares and Takeover (SAST) Regulations.

SEBI examined that Indiabulls Financial Services in January 2008 had acquired 40 lakh shares of NDTV, amounting to 6.40 per cent of the total share capital of the firm. The promoters of NDTV acquired 20.28 per cent of the total share capital of NDTV in July 2008.

- Ad - - article resumes -

However, the entities were to make requisite disclosures to NDTV under relevant provisions of SAST norms, while NDTV, in turn, was supposed to report the same to BSE as well as NSE. As per the order, the controversial media group delayed in disclosing information related to change in the shareholdings of its promoters and Indiabulls Financial Services.

“The allegation of delayed disclosures under Regulation 7(3) of SAST.. to BSE and NSE against the Notice stands established,” Securities and Exchange Board of India (Sebi) said.

Consequently, a penalty of Rs 12 lakh has been imposed on NDTV which shall be payable “jointly and severally” by the media company.

Earlier this week, the SEBI had barred NDTV’s key promoters – Prannoy Roy, Radhika Roy and their holding firm RRPR Holdings from accessing the capital markets for two years and also restrained the two individuals from holding any board or top management role at the company in this period.

However, Prannoy Roy and Radhika Roy have now got a stay from Securities Appellate Tribunal (SAT) against an earlier order passed by SEBI barring NDTV promoters from holding managerial positions at the news television network.

This is not the first time that NDTV is facing charges for indulging in such financial irregularities. Earlier, NDTV had got a show cause notice from the Income Tax Department. The IT Department show cause notice pertained to the IT Department levying a penalty of Rs. 436.80 crores for the assessment year 2009-10.

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Big Story

BJP leader P K Krishnadas had alleged that the campus was an SFI stronghold and that the principal was denying the ABVP members the right to carry out their organisation's work.

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

Proud to be a brand - Made in India?
Now, Advertise on Opindia

Here are 15 famous quotes from Harsha Bhogle during his commentary stint

The famous Indian commentator, Harsha Bhogle, born on July 19 in Hyderabad is celebrating his 58th birthday today.

Mangaluru villagers caught Mohammad Ansari raping a calf, police arrests villagers for ‘hurting religious beliefs’

In the Kunjathbail village in Mangaluru, Mohammad Ansari was caught red-handed by the villagers while he was raping a calf.
Couple forced out of village; husband pressurised to accept wife’s religion

Hindu boy’s family forced out of village for marrying Muslim girl, police advices boy to convert as villagers threaten to kill

Newlywed Hindu boy and Muslim girl approach SSP for protection as villagers threaten to kill them and local police ask the boy to convert

Mangalore: Mohammad Ansari rapes a cow by tying its limbs, villagers catch him in the act, arrested

The villagers also made Ansari touch cow’s feet and ask for forgiveness for raping her. However, when Ansari approached the calf, the animal freaked out and started running.

Revisiting Sainbari, a blot on Indian Democracy: When Communists made a mother eat rice with her dead sons’ blood

The Sainbari incident remains the most horrific instance of political violence in the country.
Delhi Police bust Taliban controlled drug cartel that used jute bags to smuggle heroin worth 5000 crores

Delhi police bust Taliban controlled heroin racket, Afghan-Pakistani cartel worth 5000 crores discovered

Delhi police's special cell has busted a sophisticated Afghan-Pakistani heroin cartel that used heroin-soaked jute bags carrying spices and dry fruits to smuggle the drug into India.

Abusive actor Ajaz Khan arrested by Mumbai Police for instigating violence through social media

Mumbai Police arrests small-time actor Ajaz Khan after he mocked the police on TikTok
Salma Ansari's temple plan receives AMU's objection

AMU administration’s jolt to Mrs Ansari’s secularism pitch, says no to temple plan inside ‘Chacha Nehru Madarsa’

Salma Ansari, the wife of former vice president Hamid Ansari, had announced recently that she will have a temple built inside the 'Chacha Nehru Madarsa' that she runs in AMU campus.

Netizens ‘express concern’ over Priyanka Chopra’s asthma after a picture where she is smoking cigarette went viral on social media

Twitter users even dug up Chopra's own old tweet condemning smoking where she had claimed she does not smoke. While things could change with time so do personal preferences, the hypocrisy is quite baffling.

Serial abuser Ajaz Khan, who was arrested for inciting communal tensions, sent to judicial custody for 14 days

Ajaz Khan was arrested by the Mumbai Police Crime Branch for uploading provoking videos promoting enmity between different communities on his social media pages
Subscribe to Day's Top Stories
- Advertisment -

Latest articles

Connect with us

173,688FansLike
159,664FollowersFollow
74,898SubscribersSubscribe
Help Opindia Reach Every Indian. Share This Post