NDTV to seek waiver of penalty imposed by BSE and NSE for delay in appointing sixth director

Posted in:

New Delhi Television Limited (NDTV) will be filing an application within the next fortnight to seek a waiver of the penalty which has been imposed by BSE and NSE on the account of non-compliance by delaying the appointment of its sixth director.

NDTV had in April and June seeked an extension for the appointment of a sixth director to the board of the company on account of COVID-19 pandemic. It had written to SEBI explaining the difficulty in finalizing a candidate for the appointment of a sixth director which was neither acknowledged nor responded to, NDTV stated in a BSE filing.

NDTV submitted its explanations of the alleged non compliance to NSE and BSE at the end of July and in August followed by the appointment of Darius Taraporvala as the sixth director to the board of the company, subject to the approval by Ministry of Information & Broadcasting.

BSE and NSE have imposed a fine of Rs 5,36,900/- each inclusive of GST for the delay in this matter. NDTV will file an application within 15 days to seek a waiver of the penalty imposed by BSE in accordance with its carve-out policy, which allows for waiver of fines.

DreamDTH is the source for breaking news and exclusive updates in DTH and Television industry! For the latest news and updates, follow us on Twitter, Google News, Telegram and Facebook. For the latest videos updates, subscribe to our YouTube channel.

Avatar of Basil Kannagi Arasu
Basil Kannagi Arasu

Editor-in-chief

Basil currently works as the Editor-in-chief at DreamDTH. He likes to write and cover the latest happenings in the Media and Entertainment Industry in India. You can always find him browsing his phone.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Visit our forums

Join the discussions with thousands of active members who share the same interests as you and learn something new...