SEBI fines NDTV Rs 10 lakh, Prannoy Roy, 3 others Rs 3 lakh each for failing to comply with mandatory disclosures

Securities market regulator SEBI has fined media organisation NDTV, and four individuals for lapses in mandatory disclosure.

IANS March 18, 2018 15:25:23 IST
SEBI fines NDTV Rs 10 lakh, Prannoy Roy, 3 others Rs 3 lakh each for failing to comply with mandatory disclosures

New Delhi: Securities market regulator SEBI has fined media organisation NDTV, and four individuals for lapses in mandatory disclosure.

According to a SEBI order dated 16 March, NDTV has been fined Rs 10 lakh.

Besides the firm, the regulator has fined — Prannoy Roy, Radhika Roy, Vikramaditya Chandra and Anoop Singh Juneja — Rs 3 lakh each.

SEBI fines NDTV Rs 10 lakh Prannoy Roy 3 others Rs 3 lakh each for failing to comply with mandatory disclosures

File image of Prannoy Roy. Twitter

"These people constitute the management of the company who are responsible for the day-to-day and overall operations of the company. 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," the order read.

The order comes after Sebi conducted an investigation based on a complaint received from Quantum Securities (QSL), a shareholder of NDTV, that the firm did not disclose the order of "Dispute Resolution Panel-II (DRP-II) of the Income Tax Department, within 2 days of receipt of information, to the stock exchanges".

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