Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

SEBI Imposes Rs 12 Lakh Fine on NDTV for Disclosure Lapses

Sebi noted that Indiabulls Financial Services in January 2008 acquired 40 lakh shares of NDTV, amounting to 6.40 per cent of the total share capital of the firm. Further, the promoters of NDTV acquired 20.28 per cent of the total share capital of NDTV pursuant to an open offer in July 2008.

PTI

Updated:June 18, 2019, 5:22 PM IST
facebookTwitterskypewhatsapp
SEBI Imposes Rs 12 Lakh Fine on NDTV for Disclosure Lapses
"We are examining the Fortis issue," Sebi Chairman Ajay Tyagi told reporters after a board meeting of the regulatory body in New Delhi.(File photo)

New Delhi: Markets regulator 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. The order comes after the regulator examined multiple disclosure lapses by NDTV and noted non-compliance with the Substantial Acquisition of Shares and Takeover (SAST) Regulations.

Sebi noted that Indiabulls Financial Services in January 2008 acquired 40 lakh shares of NDTV, amounting to 6.40 per cent of the total share capital of the firm. Further, the promoters of NDTV acquired 20.28 per cent of the total share capital of NDTV pursuant to an open offer in July 2008, Sebi said in an order dated Jun 17.

Post the transaction, 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, it added.

However, as per the order, the media company made inordinate delay in making disclosures 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 Noticee 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. Last week, the regulator barred NDTV's three key promoters Prannoy Roy, Radhika Roy and their holding firm RRPR from 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.

The Roy couple was also barred from holding a board or key managerial position at any other listed company for one year, Sebi had said while coming down heavily on them for violating various regulations by keeping minority shareholders in the dark about three loan agreements.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results