For alleged contraventions under the Foreign Exchange Management Act, 1999
New Delhi Television announced that the Directorate of Enforcement, based on a complaint alleging certain contraventions under the Foreign Exchange Management Act, 1999 relating to receipt of Foreign Direct Investment of Rs. 1,637 crore and Overseas Investments of Rs. 2,732 crore, has issued a Show Cause Notice dated 17 October 2018 ('SCN') inter-alia to the Company, two Executive Co-Chairpersons of the Company, NDTV Networks (a subsidiary of the Company) and NDTV Studios (an erstwhile subsidiary of the Company which, as of date, stands merged with the Company).The Company is currently examining the aforesaid SCN and the legal options available to it. The Company will seek appropriate legal advice and will take necessary action(s) accordingly.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content