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The court asked NDTV promoters Prannoy Roy and Radhika Roy to apprise it of the shares they hold in the company
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
The regulator in its order said the loan agreements had clauses that have an adversarial effect on NDTV shareholders
The promoters' lawyers will appeal against the order and its baseless findings at the Securities Appellate Tribunal, NDTV said in a statement
The final part of the series looks at online news, as a regulatory regime for online content is being put in place
NDTV said the order is based on an inaccurate assessment of facts.
The move relates to a probe conducted by the markets regulator Sebi between September 2006 and June 2008 where violations of insider trading regulations were found
Media firm New Delhi Television Ltd (NDTV) on Monday reported a 54.68 per cent decline in consolidated net profit at Rs 7.55 crore for the quarter ended June
The decision follows the Supreme Court ruling that allowed the revenue department to do so
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Sebi had rejected the settlements on account of delay in filing the settlement applications
It is alleged that the company floated 32 subsidiaries in several tax haven countries to bring foreign funds to India through sham transactions
The tribunal's ruling came on appeals filed by NDTV against Sebi's orders passed in a case pertaining to the firm making delayed disclosure to exchanges regarding tax demand
NDTV, however, said it is yet to receive the penalty order from the Securities and Exchange Board of India (Sebi)
In its 51-page order, the markets regulator said all the three key promoters did insider trading by concealing price-sensitive information about three loan agreements
The stock was locked in the upper circuit of 10% at Rs 39.25 on the BSE after NDTV and Taboola, the world's largest content platform signed a five-year exclusive deal worth more than Rs 3 billion.
In September 2015, NDTV Convergence had first signed around Rs 1 billion deal with Taboola for three years
NDTV in a filing with the bourses said that the suit notice is on account of its weekly show 'Truth vs Hype' for a story 'The Ideal Partner in Rafale Deal' broadcasted on NDTV 24x7 on Sep 29, 2018
The stock is locked in upper circuit of 20% at Rs 39 on the BSE in early morning trade on Wednesday.