SAT disposes of NDTV appeal against SEBI penalty in light of Bombay High Court judgment

SAT disposes of NDTV appeal against SEBI penalty in light of Bombay High Court judgment

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The Securities Appellate Tribunal (SAT) today disposed of the appeal filed by NDTV in light of the judgment dated 4th September 2019 passed by the Hon’ble Bombay High Court which invalidated the impugned order. SEBI has file a special leave petition in front of the Hon’ble Supreme Court against the said order of invalidation which is pending.

SEBI had on 17th June 2019 levied a penalty against NDTV of Rs 12 lakhs under the provisions of Section 15 of SEBI Act on account of alleged non-compliance of the SEBI Regulations, 1997.

NDTV Founders Radhika Roy and Prannoy Roy have meanwhile moved the Supreme Court against the SAT order directing them to deposit 50 percent of disgorged amount before SEBI within four weeks passed on 4th January, 2021.

In continuation of the disclosure made by New Delhi Television Limited (“NDTV/ Company”) on November 28, 2020, December 23, 2020 and January 8, 2021, Dr. Prannoy Roy and Mrs. Radhika Roy, the Founders of NDTV, have informed the Company that they have filed an appeal in the Supreme Court against the interim order dated January 4, 2021 passed by the Securities Appellate Tribunal (SAT),” said NDTV in a BSE filing,

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