SEBI fines NDTV Rs 5 crore for withholding price-sensitive information
The regulator said its probe began after receipt of complaints in 2017 from Quantum Securities Pvt Ltd about an alleged violation of rules by non-disclosure of material information to the shareholders about loan agreements with VCPL
PTI | December 29, 2020 | Updated 20:27 IST
Last week, the regulator imposed a total penalty of Rs 27 crore on NDTV promoters
Markets regulator Sebi on Tuesday imposed a penalty of Rs 5 crore on NDTV for its failure to disclose price-sensitive information about VCPL loan agreements.
The loan agreements were containing clauses and conditions that substantially affected the functioning of the media company, Sebi said in its order.
Sebi fines NDTV Rs 5 crore for loan agreement disclosure lapses
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On August 26, 2017, the capital markets regulator received a complaint from Quantum Securities relating to loan agreement signed between promoters of NDTV Prannoy Roy, Radhika Roy and RRPR Holding and VCPL. Subsequently, Sebi conducted an investigation which revealed that the loan agreements entered between RRPR Holdings and VCPL contained certain clauses related to NDTV. Prima facie, the deal appeared to be material and price sensitive, the regulator said.
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Securities and Exchange Board of India(Sebi) has imposed a penalty of Rs 5 crore on New Delhi Television Limited(