Top Story


Home >> Media - TV >> Article

NDTV writes to BSE after SEBI slaps Rs. 10 lakh fine for disclosure lapses

Font Size   16
NDTV writes to BSE after SEBI slaps Rs. 10 lakh fine for disclosure lapses

After securities market regulator SEBI slapped a fine of Rs. 10 lakh on NDTV and Rs. 3 lakh each on four other individuals including promoters Prannoy Roy and Radhika Roy, NDTV wrote to BSE that it will obtain appropriate legal advice on the matter after SEBI makes a formal communication about the fines imposed.

SEBI (Securities and Exchange Board of India,) imposed the fine for delayed disclosures under the Listing Agreement and the Insider Trading Regulations.

“The Company checked SEBI’s website for the said order and found that SEBI has passed an order on March 16, 20I8 in the matter of the show cause notice dated 20.8.2015 while the said Writ Petition is still pending before the Hon’ble High Court of Bombay,” said NDTV in the letter to Bombay Stock Exchange (BSE).

Although the SEBI order is dated March 16, 2018, the company has still not received any formal communication from SEBI imposing the said fines, NDTV claims in the letter to BSE on March 19, 2018.

Besides putting a fine of Rs. 10 lakh on NDTV, Prannoy Roy, Radhika Roy, Vikramaditya Chandra (the then group CEO) and Anoop Singh Juneja (compliance officer) have also been fined Rs. 3 lakh each.

"These people constitute the management of the company responsible for the day-to-day and overall operations. Further, it is an admitted fact that the decision not to disclose the tax demand was a conscious decision taken by the management of NDTV," read the SEBI order.

According to the order, the amount of penalty is to be paid within 45 days of the receipt of the order.

Tags NDTV Prannoy Roy Radhika Roy SEBI Vikram Chandra SEBI fines NDTV Stock Exchange

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Ushering the launch with a campaign titled ‘The New Way to Get Rich’ showcasing how technology gets millennials closer to their financial dreams

Ogilvy and Love Matters conceptualised a campaign that aimed to change the conversation and imagery that is associated with the LGBTQ community and lesbians in particular