Stating that the SEBI order was uploaded by the regulator after business hours yesterday, NDTV said it is intimating the stock exchanges about the order “without prejudice to our contentions in respect of the order, including on the issue of whether the same warrants a disclosure”.
“In view of the company, it does not materially impact its present or future operations, or profit of financials,” NDTV said, while explaining its stand on whether the tax demand had warranted a disclosure.
SEBI said in its 27-page order that the fine was imposed for violation of disclosure norms under listing agreement.
The matter relates to a tax demand of Rs 450 crore raised by the Income Tax Department through an assessment order, dated February 21, 2014, issued by Assessing Officer for the Assessment Year 2009-10. The matter was disclosed by NDTV to the BSE and the NSE in May 2014.
“... a total penalty of Rs 2,00,00,000 is imposed upon the notice New Delhi Television Limited which will be commensurate with violations committed by the noticee,” SEBI’s Adjudicating Officer Prasad Jagadale said in his order.
NDTV says it ‘disagrees’ with SEBI penalty - The Hindu
