NDTV in trouble again, Tax Dept attaches entire shares of promoter group RRPR
The Income Tax Department has attached the entire 29.12 per cent shareholding of RRPR Holding Pvt Ltd in NDTV Ltd, the media house said in a filing to the stock exchanges
The Income Tax Department has attached the entire 29.12 per cent shareholding of RRPR Holding Pvt Ltd in NDTV Ltd, the media house said in a filing to the stock exchanges.
RRPR Holding Pvt Ltd which is the largest promoter group company in New Delhi Television Ltd comprises 18.81 million of equity shares.
“RRPR Holding Pvt Ltd, one the promoters of the company, has informed the company today that it has received an order dated October 25, 2017, issued by Deputy Commissioner of Income Tax under section 281B of the Income Tax Act, 1961, provisionally attaching the entire shareholding held by RRPR in the company comprising 1.88 crore equity shares,” NDTV said in the regulatory filing.
However, the company did not share the details of the issue over with the Income Tax Department attached the shares of RRPR Holding Pvt Ltd it added in the filing, “RRPR is in the process of seeking legal advice to take appropriate action in the said matter.”
New Delhi Television Ltd is the company that operates news channels NDTV 24x7, NDTV India and NDTV Profit. NDTV has been under the government’s radar lately.
Earlier, the government had passed an order to take NDTV India off air for allegedly revealing sensitive information. However, after nationwide protests and discussions with the government, the order was held back.
Also, in June 2017, the residence of NDTV co-founder Prannoy Roy was raided by the Central Bureau of Investigation (CBI) for reportedly causing a loss of Rs 48 crore to ICICI Bank.
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