The Securities Appellate Tribunal (SAT) in Mumbai at a hearing earlier this week directed New Delhi Television Limited (NDTV) to deposit 50 percent of the disgorged amount before the Securities and Exchange Board of India (SEBI) within four weeks from January 4, 2021.
The Hon’ble SAT noted that if NDTV deposits the amount the balance amount will not be recovered during the pendency of the appeal before SAT.
SAT further noted that the appeals filed by founders of NDTV Prannoy Roy and Radhika Roy needed consideration and directed the appeals to be listed before the tribunal for final disposal on February 10, 2021.
‘The Founders shall urgently file an appeal in the Hon’ble Supreme Court against the aforesaid order dated January 4, 2021 passed by the Hon’ble SAT,” stated NDTV in a filing with BSE.
