New Delhi Television Limited (NDTV) has requested the Securities & Exchange Board of India for an extension to comply with its regulations for the appointment of directors to the board in view of COVID-19.
NDTV in a BSE filing on April 2, informed the Bombay Stock Exchange regarding its request to SEBI. NDTV stated that the spread of COVID-19 virus and the subsequent lockdown was hampering businesses and the day-to-day functioning of the companies.
It further said that it had requested SEBI to grant an extension of three months to the company to comply with the Regulation 17(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the appointment of a sixth Director to the Board of the Company.
The broadcaster is making continuous efforts to find a suitable candidate for the appointment of the sixth director. NDTV said, “The Board of Directors of the Company which continues to make efforts to find a suitable candidate for the appointment of a sixth Director, was not be able to complete such exercise ahead of the March 31, 2020 deadline as it has been caught up in ensuring the smooth operations of the Company, and has been forced to indefinitely postpone physical meetings with potential candidates.”