Sebi approval 'necessary' for Adani group to acquire NDTV promoters' stake in holding firm RRPR: Filing
2 years, 3 months ago

Sebi approval 'necessary' for Adani group to acquire NDTV promoters' stake in holding firm RRPR: Filing

Firstpost  

In November 2020, Sebi restrained NDTV’s founder-promoters Prannoy and Radhika Roy from accessing the securities market, and further prohibiting buying, selling, or otherwise dealing in securities, directly or indirectly, or being associated with the securities market for a period of two years New Delhi: Approval from market regulator Sebi is “necessary” for Adani group firm Vishvapradhan Commercial Private Ltd to acquire interests in NDTV’s promoter entity RRPR Ltd against an unpaid loan, a regulator filing said on Thursday. “… unless pending appeal proceedings were to successfully conclude prior, Sebi approval is necessary for the proposed Acquirer to secure 99.5 per cent interests in the Promoter Group vehicle, since this would consequently lead to the acquisition of voting rights in respect of 29.18 per cent of the issued share capital of the Target Company held by the Promoter Group vehicle,” said NDTV in the regulatory filing. On Tuesday, Adani group announced that it has acquired 29.18 per cent shareholding in NDTV and will launch an open offer to buy an additional 26 per cent stake. Adani group firm first acquired VCPL from its new owner and exercised the option to convert unpaid debt into a 29.18 per cent stake in the news channel company.

Securities Group Cent Promoter Ndtv Rrpr Vcpl  promoters  loan  market  promoter  securities  firm  unpaid  cent  sebi  holding  group  necessary  filing  rrpr  stake  ndtv

History of this topic

Adani-owned NDTV share price down over 1% as Q4FY23 net profit slumps 97%
1 year, 7 months ago

Adani-owned NDTV share price down over 1% as Q4FY23 net profit slumps 97%

Live Mint  

Shares of New Delhi Television Ltd trades flat during Tuesday's session. On Monday, the company reported 97.5% decline in Q4FY23 net profit. In comparison to a consolidated net profit of ₹24.16 crore in the comparable quarter last fiscal year, the media company's net profit for the quarter that ended March 2023 was ₹59 lakhs. AMG Media Networks Ltd, through its …

NDTV Q4: Firm posts 97% decline in net profit to ₹59 lakh
1 year, 7 months ago

NDTV Q4: Firm posts 97% decline in net profit to ₹59 lakh

Live Mint  

Media firm New Delhi Television Ltd on Monday reported 97.5 per cent decline in net profit at ₹59 lakhs for the quarter that ended March 2023. NDTV has reduced the external borrowings, to ₹3 crore in the quarter under review from ₹9 crores last year The cash and cash equivalents stood at ₹103.6 crore for the quarter ended March 2023, …

Adani prepays ₹7,374 cr. of share-backed loans
1 year, 9 months ago

Adani prepays ₹7,374 cr. of share-backed loans

The Hindu  

The Adani Group on Tuesday said it had prepaid share-backed financing of ₹7,374 crore as the conglomerate tries to recover from U.S. based short seller Hindenburg Research’s scathing report on its businesses. Earlier last month, amidst a rout in its stocks, the group had repaid ₹9,200 crore worth loans before maturity to release shares pledged by the promoters. “In continuation …

NDTV founders sell their stake to billionaire Adani: ‘All suggestions we made were accepted’
2 years ago

NDTV founders sell their stake to billionaire Adani: ‘All suggestions we made were accepted’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The founders of New Delhi …

NDTV founders to sell most of their stake in broadcaster to Adani Group
2 years ago

NDTV founders to sell most of their stake in broadcaster to Adani Group

The Hindu  

NDTV founders Prannoy Roy and his wife Radhika Roy on December 23, 2022 said they will sell 27.26% out of their remaining 32.26% shareholding in the news broadcaster to Adani Group. This follows Adani Group becoming the single-largest shareholder in New Delhi Television Ltd after first buying out a company backed by the founders and then acquiring more shares from …

Billionaire Adani to own 65% of India’s NDTV as founders sell
2 years ago

Billionaire Adani to own 65% of India’s NDTV as founders sell

Al Jazeera  

NDTV founders Radhika and Prannoy Roy made several unsuccessful attempts to block the takeover by Gautam Adani. Indian billionaire Gautam Adani will control 64.71 percent of New Delhi Television Ltd as the company’s founders have decided to sell most of their shares, four months after he launched a takeover of the news network. Adani already held 37 percent of NDTV …

NDTV to give two board seats to Adani group firm
2 years ago

NDTV to give two board seats to Adani group firm

The Hindu  

NDTV has offered billionaire Gautam Adani's group two seats on its board of directors for the pre-open offer, 29.18% shareholding, the ports-to-energy conglomerate had acquired in the broadcaster, according to a stock exchange filing. The Adani group acquired a 29.18% stake in NDTV by buying a company backed by the television network's founders, Radhika Roy and Prannoy Roy. The stock …

Indian billionaire Adani is now NDTV’s biggest shareholder
2 years ago

Indian billionaire Adani is now NDTV’s biggest shareholder

Al Jazeera  

The news network’s takeover has raised fears that one of the country’s last bastions of free press is under threat. Indian billionaire Gautam Adani’s conglomerate has raised its stake in New Delhi Television Ltd to more than 37 percent through an open offer, making it the biggest shareholder of one of the country’s most popular news networks. Although Adani’s group, …

NDTV shares continue to rally for 5th day, hit upper circuit limit
2 years ago

NDTV shares continue to rally for 5th day, hit upper circuit limit

The Hindu  

Shares of NDTV continued to rally for the fifth day running on Wednesday, further climbing 5% to hit its highest permissible trading limit for the day. NDTV founders Prannoy Roy and his wife Radhika Roy have resigned as the directors of promoter group vehicle RRPR Holding Private Limited as the Adani Group neared takeover of the television channel. In a …

Gautam Adani says NDTV takeover a 'responsibility', not 'business opportunity': Here is why
2 years ago

Gautam Adani says NDTV takeover a 'responsibility', not 'business opportunity': Here is why

Op India  

In an interview with the Financial Times, the world’s third richest person and the Chairman of the Adani Group, Gautam Adani, stated that the takeover of NDTV is not a business opportunity but rather a ‘responsibility’. Notably, in August this year, Adani Enterprises Ltd’s subsidiary AMG Media Networks Ltd purchased Vishvapradhan Commercial Pvt Ltd, which had lent Rs 403.85 crore …

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks
2 years, 1 month ago

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks

Live Law  

The Supreme Court on Monday adjourned the hearing of the Securities and Exchange Board of India's challenge against the Securities Appellate Tribunal's order that reduced penalties imposed on NDTV promoters Prannoy Roy, Radhika Roy for allegedly concealing price sensitive information from shareholders. On July 20, the SAT at Mumbai had set aside the findings of the SEBI which held the …

Adani Enterprises raises ₹100 cr via market-linked NCDs, stock 2% up
2 years, 3 months ago

Adani Enterprises raises ₹100 cr via market-linked NCDs, stock 2% up

Live Mint  

Adani Group's flagship company Adani Enterprises on Monday raised ₹100 crore by allotment of non-convertible debentures on a private placement basis. On BSE, Adani Enterprises shares closed at ₹3,778.90 apiece surging by ₹77 or 2.08% after touching an intraday high of ₹3,800 apiece. Last month, Adani Enterprises-backed Vishvapradhan Commercial Private Limited exercised the rights to acquire 99.5% of the equity …

Adani Group's Open Offer For NDTV To Begin On October 17 And End On November 1
2 years, 3 months ago

Adani Group's Open Offer For NDTV To Begin On October 17 And End On November 1

ABP News  

Gautam Adani-led Adani Group will launch its open offer for acquiring an additional 26 per cent stake in news company New Delhi Television Ltd from October 17 to November 1, JM Financial, which is managing the offer, said in the Draft Letter of Offer filed with the Securities and Exchange Board of India. On August 23, Adani Group announced its …

Adani Group says I-T department nod not needed to acquire NDTV shares
2 years, 3 months ago

Adani Group says I-T department nod not needed to acquire NDTV shares

Deccan Chronicle  

New Delhi: The Adani group believes that there is no restriction by tax authorities on it acquiring a stake in NDTV, a statement that has also been backed by tax experts. The Adani group in a statement said Vishvapradhan Commercial Pvt Ltd has informed that the income tax department orders only apply to share of NDTV held by RRRP Holding …

Backdoor ambush: Adani attempts to acquire significant stake in NDTV
2 years, 3 months ago

Backdoor ambush: Adani attempts to acquire significant stake in NDTV

The Hindu  

Published : Sep 03, 2022 20:32 IST Extending a loan to launch a takeover of a company or an asset is the oldest trick in the asset acquisition playbook. This is what Adani’s media flagship company, AMG Media Networks Ltd., announced on August 23, giving the Roys just 48 hours to convert the warrants to shares. The Adani group’s latest …

Adani Group to launch open offer for NDTV on 17 October
2 years, 3 months ago

Adani Group to launch open offer for NDTV on 17 October

Firstpost  

The open offer for acquiring 1.67 crore equity shares, for which a price of Rs 294 per share has been fixed, will tentatively close on 1 November New Delhi: Adani Group will launch its open offer on 17 October for acquiring an additional 26 per cent stake in media firm NDTV. The open offer for acquiring 1.67 crore equity shares, …

Sebi sees no bar in transfer of NDTV shares to Adani
2 years, 3 months ago

Sebi sees no bar in transfer of NDTV shares to Adani

Live Mint  

MUMBAI : The Securities and Exchange Board of India has in internal consultations concluded that there is no bar on RRPR Holding Ltd, a promoter entity of news broadcaster New Delhi Television Ltd, from allotting shares to Adani Group, three people with direct knowledge of the regulator’s thinking said. “An internal note has been put by the corporate finance department …

NDTV: the hostile takeover
2 years, 3 months ago

NDTV: the hostile takeover

The Hindu  

The Adani Group’s potential hostile takeover bid of NDTV brings home the dangers of over-borrowing, the growing clout of large corporates in the media business and the need for media companies to focus on subscription revenues. Hence, the agreements between RRPR and VCPL included convertible warrants, call options on NDTV shares issued to VCPL’s associates and protective rights such as …

Explained | What’s next on Adani’s proposal to acquire NDTV?
2 years, 3 months ago

Explained | What’s next on Adani’s proposal to acquire NDTV?

The Hindu  

The story so far: A battle to control the management of New Delhi Television Ltd., which operates one of the leading television news outlets in the country, is brewing between the Adani Group and the founders of NDTV. If the open offer made by the Adani Group entity is successful, NDTV would come under the control of billionaire Gautam Adani’s …

The Curious Case of Adani Group's NDTV Takeover: What Next for the Media House?
2 years, 3 months ago

The Curious Case of Adani Group's NDTV Takeover: What Next for the Media House?

The Quint  

But not any more. Since AMG Media Networks Limited, a wholly owned subsidiary of Adani Enterprises, bought 100% of the equity stakes in VPCL for Rs 113.74 crore on the same day as its NDTV announcement. Here’s the ownership breakdown at the time of transaction in 2009: Vishvapradhan was owned by Shinano Shinano was co-owned by Teesta Retail Private Limited …

Adani Enterprises Says Sebi Approval Not Needed For Buying NDTV Shares
2 years, 3 months ago

Adani Enterprises Says Sebi Approval Not Needed For Buying NDTV Shares

ABP News  

Gautam Adani-led Adani Enterprises on Friday in a regulatory filing to the stock exchange said that Vishvapradhan Commercial Private Limited does not agree with RRPR Holdings, promoter group vehicle of New Delhi Television, that prior written approval from the Sebi is required for allotment of shares to VCPL on exercise of warrants. According to an official release by Adani Enterprises, …

Adani Group says regulatory nod not needed for NDTV share acquisition
2 years, 3 months ago

Adani Group says regulatory nod not needed for NDTV share acquisition

Hindustan Times  

Adani Enterprises said on Friday that regulatory restrictions are not applicable to New Delhi Television Ltd's top shareholder RRPR Holding Private Limited owned by founder Radhika and Prannoy Roy and they cannot 'legally' prevent share allotment to Adani Group. New Delhi Television Ltd's founders Prannoy Roy and Radhika Roy tried to block Adani's attempt to acquire majority stake in the …

Adani group rejects NDTVs assertion of Sebi nod needed for share acquisition
2 years, 3 months ago

Adani group rejects NDTVs assertion of Sebi nod needed for share acquisition

Firstpost  

Terming the contentions raised by RRPR as “baseless, legally untenable and devoid of merit”, VCPL said the holding firm is “bound to immediately perform its obligation and allot the equity shares” as specified in the Warrant Exercise Notice New Delhi: Adani group on Friday rejected NDTV’s assertion that Sebi’s approval is necessary to acquire interests in RRPR, saying the promoter …

Adani group asserts RRPR is bound to transfer NDTV shares to VPCL
2 years, 3 months ago

Adani group asserts RRPR is bound to transfer NDTV shares to VPCL

The Hindu  

Adani Group’s subsidiary Vishvapradhan Commercial Private Limited has responded to the stock exchange filing by RRPR- promoter group vehicle of New Delhi Television and contended that RRPR is not a party to the SEBI order dated November 27, 2020 and and it is not under any restrain by the market regulator. It may be noted that the VCPL is a …

Bitter takeover battle between Adani and news network NDTV
2 years, 3 months ago

Bitter takeover battle between Adani and news network NDTV

Live Mint  

When India's richest man Gautam Adani this week unveiled plans for his firm to control a majority stake in New Delhi Television, it was the stealth approach in executing the transaction that drew most attention in the news industry. But NDTV, one of nation's most popular news networks, is seeking to block the takeover attempt by the billionaire tycoon's group, …

NDTV seeks to block Adani takeover on regulatory issues
2 years, 4 months ago

NDTV seeks to block Adani takeover on regulatory issues

Hindustan Times  

India's New Delhi Television Ltd on Thursday sought to block Gautam Adani's attempt to acquire a majority stake in the news network, saying regulatory restrictions meant the bid from the billionaire tycoon's group could not proceed. In a stock exchange filing, NDTV said its founders Prannoy and Radhika Roy have since 2020 been barred from buying or selling shares in …

Adani Group Requires Sebi Approval To Buy 99.5 Per Cent Interests In Promoter Group: NDTV
2 years, 4 months ago

Adani Group Requires Sebi Approval To Buy 99.5 Per Cent Interests In Promoter Group: NDTV

ABP News  

New Delhi Television said on Thursday Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks Ltd and Adani Enterprises Ltd will need approval from the Securities and Exchange Board of India to acquire 99.5 per cent interests in its promoter group, according to the stock exchnage filing by the media house. In a disclosure to bourses, NDTV stated that this …

NDTV promoters say Sebi nod required for Adani to acquire shares
2 years, 4 months ago

NDTV promoters say Sebi nod required for Adani to acquire shares

Live Mint  

NDTV on Thursday argued that its promoters cannot yet transfer shares in the television channel’s parent entity to Adani Group firms, citing a November 2020 ruling by the markets regulator which barred them from accessing capital markets for two years in a case of insider trading. Adani Group firms would need to secure the Securities and Exchange Board of India's …

Adani stake in NDTV | Promoters cite SEBI ban on dealing in shares
2 years, 4 months ago

Adani stake in NDTV | Promoters cite SEBI ban on dealing in shares

The Hindu  

In the face of a takeover bid from the Adani group’s media subsidiary, NDTV promoters Prannoy Roy and Radhika Roy indicated on Thursday that an immediate transfer of their shares held through promoter holding firm RRPRH is not possible as they are currently barred by stock market watchdog SEBI from dealing in shares directly or indirectly. The NDTV promoters’ statement, …

In Adani's NDTV bid hangs a cautionary tale
2 years, 4 months ago

In Adani's NDTV bid hangs a cautionary tale

Live Mint  

This is the practice of getting loans by pledging shares and is as old as trading in Indian markets. Pledge agreements come with the right to sell shares, convert warrants into equity, and take ownership of shares if loans remain unpaid. Centre mulls cutting tax rates in new income tax regime Why rising interest rates don't make FDs attractive How …

NDTV surges to 14-year high on Adani move
2 years, 4 months ago

NDTV surges to 14-year high on Adani move

The Hindu  

Shares in India's NDTV Ltd jumped the maximum permitted 5% to a 14-year high on Wednesday, after billionaire Gautam Adani's conglomerate moved to take a near 30% stake in the media group that could eventually lead to it taking control. New Delhi Television's shares surged far beyond the price Adani Group said it would pay in a subsequent mandatory open …

‘Hostile Takeover’: How Adani Group Acquired Stake In NDTV | EXPLAINED
2 years, 4 months ago

‘Hostile Takeover’: How Adani Group Acquired Stake In NDTV | EXPLAINED

ABP News  

Gautam Adani-led Adani Group’s media arm on Tuesday said that it will acquire a 29.18 per cent stake in New Delhi Television Ltd. A short history about VCPL Vishvapradhan Commercial Private Limited or VCPL, which was set up in 2008, was at the heart of Adani Group’s two-stage plan to snap up a majority stake in NDTV. On Tuesday, Adani …

Explainer: How Adani Group moved stealthily to acquire NDTV stake
2 years, 4 months ago

Explainer: How Adani Group moved stealthily to acquire NDTV stake

Live Mint  

When India's richest man Gautam Adani unveiled plans for his firm to control a majority stake in New Delhi Television on Tuesday, it was the stealth approach in executing the transaction that drew most attention in the news industry. A COMPANY CALLED VCPL At the heart of Adani Group's two-stage plan to snap up a majority stake in NDTV is …

NDTV says it was indirectly acquired by billionaire Gautam Adani ‘without consent’
2 years, 4 months ago

NDTV says it was indirectly acquired by billionaire Gautam Adani ‘without consent’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But on Tuesday, billionaire businessman Gautam Adani’s media arm …

Control Of NDTV Not Transferred To VCPL Via Loan Agreement, Says SAT
2 years, 4 months ago

Control Of NDTV Not Transferred To VCPL Via Loan Agreement, Says SAT

ABP News  

A Securities and Appelate Tribunal order of July 20, 2022 assumes significance against the backdrop of an attempted takeover of NDTV by Adani Media Works. The SAT has held that the loan agreement executed by the NDTV promoters with VCPL did not transfer control of NDTV to VCPL either directly or indirectly and, therefore, the findings given by the AO …

NDTV stock rises 5%; hits upper circuit limit after Adani group's takeover bid
2 years, 4 months ago

NDTV stock rises 5%; hits upper circuit limit after Adani group's takeover bid

Firstpost  

In a move that has significant ramifications for the media landscape, billionaire Gautam Adani on Tuesday launched a hostile bid to take over NDTV, first with an indirect acquisition of 29.18 per cent stake in the broadcaster followed by an offer to buy out a further 26 per cent controlling stake New Delhi: NDTV’s share price rose 5 per cent, …

‘…is nothing but…’: What Congress said on Adani’s hostile takeover bid for NDTV
2 years, 4 months ago

‘…is nothing but…’: What Congress said on Adani’s hostile takeover bid for NDTV

Live Mint  

With billionaire Gautam Adani launching a hostile takeover of NDTV, the Congress today alleged that the bid by a company owned by Prime Minister Narendra Modi's 'khaas dost' is a brazen move to control and stifle any semblance of an independent media. In reference to the development, Congress general secretary Jairam Ramesh tweeted, "The news of a deeply over-leveraged company …

Congress' Jairam Ramesh on Gautam Adani's 'hostile takeover' of NDTV
2 years, 4 months ago

Congress' Jairam Ramesh on Gautam Adani's 'hostile takeover' of NDTV

Hindustan Times  

India's opposition leaders on Wednesday expressed concern over billionaire Gautam Adani's takeover bid for popular New Delhi Television with an indirect acquisition of a 29.18 per cent stake in the media giant followed by an offer to buy out a further 26 per cent controlling stake. In an obvious reference to Gautam Adani who has a decades-long relationship with Prime …

All about Adani’s media entity that bought 29.18% stake in NDTV
2 years, 4 months ago

All about Adani’s media entity that bought 29.18% stake in NDTV

Live Mint  

Adani Group on Tuesday indirectly acquired a 29.2% stake in New Delhi Television Ltd by buying VCPL, and offered to buy another 26% from the open market, NDTV said the move to take control of the media company's major shareholder was without consent from the firm or its founders. This acquisition marked “a significant milestone" for AMG Media Networks Ltd. …

Adani Group to acquire 29.18% stake in NDTV: Things to know about AMNL
2 years, 4 months ago

Adani Group to acquire 29.18% stake in NDTV: Things to know about AMNL

Hindustan Times  

Gautam Adani-controlled AMG Media Networks Limited on Tuesday announced that it will buy a majority stake in New Delhi Television. The group said it will indirectly acquire 29.18% stake in NDTV and launch an open offer for acquiring another 26% to get a majority stake in the media company. Adani Group to acquire 29.18% stake in NDTV: Things to know …

Adani entity’s move to acquire 29.18% stake without consent, says NDTV
2 years, 4 months ago

Adani entity’s move to acquire 29.18% stake without consent, says NDTV

Live Mint  

Hours after Adani Group, indirectly acquired a 29.2% stake in New Delhi Television Ltd, and offered to buy another 26% from the open market, NDTV said the move to take control of the media company's major shareholder was without consent from the firm or its founders. Billionaire Gautam Adani's conglomerate will buy a majority stake in NDTV, marking its most …

Gautam Adani makes foray into news channel space; set to acquire NDTV
2 years, 4 months ago

Gautam Adani makes foray into news channel space; set to acquire NDTV

Firstpost  

The owners of New Delhi Television Ltd said they were completely unaware of the takeover until Tuesday, and that it was done without their consent or any discussion. The particular company had loaned Rs 250 crore to NDTV in 2008-09 and the Adani group firm now exercised the option to convert that debt into a 29.18 percent stake in the …

Adani Group to acquire 29% in NDTV, says will launch open offer for another 26% stake
2 years, 4 months ago

Adani Group to acquire 29% in NDTV, says will launch open offer for another 26% stake

Hindustan Times  

Ahmedabad: Adani Group subsidiary, AMG Media Networks Limited, on Tuesday announced that it will indirectly acquire a 29.18% stake in media and news broadcaster New Delhi Television and launch an open offer to acquire another 26%. AMNL’s wholly-owned subsidiary Vishvapradhan Commercial Private Limited has exercised the rights to acquire 99.5% of the equity shares of RRPR Holding Private Limited, a …

Adani Group to buy 29.2% stake in NDTV, launch open offer for another 26%
2 years, 4 months ago

Adani Group to buy 29.2% stake in NDTV, launch open offer for another 26%

Hindustan Times  

India's Adani Group said on Tuesday its media unit will buy a majority stake in New Delhi Television, one of nation's most popular, in the most high-profile bet by billionaire Gautam Adani in the vibrant media sector. Adani to buy 29.2% stake in NDTV, launch open offer for another 26% Adani's unit will indirectly buy a 29.18% stake in New …

Adani group makes bid to take over NDTV
2 years, 4 months ago

Adani group makes bid to take over NDTV

The Hindu  

Over the past month and a half, the NDTV stock has more than doubled from ₹164.6 on July 6, and ended Tuesday’s trading session 2.61% up at ₹366.20 on the Bombay Stock Exchange. Adani Enterprises, in its submission to exchanges, said that VCPL is a wholly owned subsidiary of AMNL and has exercised its right to convert 19,90,000 warrants into …

Adani Group to acquire 29.2% stake in NDTV, launches open offer
2 years, 4 months ago

Adani Group to acquire 29.2% stake in NDTV, launches open offer

Live Mint  

AMG Media Networks Limited, a subsidiary of the Adani group, will indirectly acquire a 29.18% stake in New Delhi Television Ltd and launch an open offer for another 26% stake in the media house, the Adani Group said in a statement. Adani entities made ₹493-crore open offer for 26% stake in NDTV at ₹294 per share. The Adani group entities …

SAT Sets Aside SEBI Findings Of Fraud Against NDTV Promoters; Reduces Penalties Imposed For Non-Disclosure Of Loan Agreement
2 years, 5 months ago

SAT Sets Aside SEBI Findings Of Fraud Against NDTV Promoters; Reduces Penalties Imposed For Non-Disclosure Of Loan Agreement

Live Law  

The Securities Appellate Tribunal at Mumbai has set aside the findings of the Securities and Exchange Board of India which held NDTV promoters Prannoy Roy and Radhika Roy liable for committing fraud on its investors by non-disclosure of a loan agreement with Vishvapradhan Commercial Pvt Ltd. The SAT also reversed the SEBI finding that the the promoters had ceded control …

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