Following appeals by NDTV founders and promoters Prannoy Roy and Radhika Roy against the Securities and Exchange Board of India (SEBI) order of Rs 27 crore fine for alleged non-disclosure of loan agreements, the Securities Appellate Tribunal (“SAT”) has held that the pleas require consideration.
SAT asks NDTV s Prannoy and Radhika Roy to deposit 50% of disgorged amount
The Securities Appellate Tribunal (SAT) said if NDTV deposits the amount, the balance amount will not be recovered during the pendency of the appeal before it
PTI | January 11, 2021 | Updated 16:03 IST
NDTV promoter Prannoy Roy
The Securities Appellate Tribunal (SAT) has directed NDTV s promoters Prannoy Roy and Radhika Roy to deposit 50 per cent of the disgorged amount before markets regulator Sebi within four weeks. It further said if NDTV deposits the amount, the balance amount will not be recovered during the pendency of the appeal before SAT.
In two separate orders passed on January 4, the tribunal noted that the appeals filed by the Roy couple needed consideration and directed the appeals to be listed before the tribunal for final disposal on February 10, 2021.
Read more about Deposit 50% of disgorged amount: Tribunal to NDTV s Prannoy and Radhika Roy on Business Standard. The Securities Appellate Tribunal (SAT) has directed NDTV s promoters Prannoy Roy and Radhika Roy to deposit 50 per centof the disgorged amount before markets regulator Sebi
Prabhat Dairy Gets 6 More Months with a Caveat To Complete Delisting
Moneylife Digital Team
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In the last week of December 2020, the Securities and Exchange Board of India (SEBI) granted a six-month extension to Prabhat Dairy Ltd (PDL) to complete the delisting process.
Prabhat Dairy had received shareholders nod for delisting the company on 14 October 2019. In October 2020, PDL requested the market regulator for a six-month extension for filing the final application for delisting and referred to the COVID-19 lock-down imposed in March as a reason for delay.
As per SEBI norms, a company is required to make the final application to stock exchanges for delisting within one year of passing the special resolution. In a six-page order, SEBI granted an extension of six months to the special resolution passed by the shareholders for the delisting of the company till 13 April 2021, subject to certain conditions.