NDTV keeps a-la-carte MRP unchanged in fresh NTO 2.0 RIO apart from trimming of bouquet offerings.
NDTV’s television business delivered the best quarter in the last 16 years earning a profit of more than Rs 10 crores, with a turnaround of Rs 4 crores over the same period last year.
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.
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.
The company informed stock exchanges about the fine late night yesterday stating that it felt the fine was based on an inaccurate assessment of facts on SEBI’s part which will not withstand scrutiny in appeal.
The core issue of the alleged control is pending adjudication at the Securities Appellate Tribunal which in 2019 granted a stay in favor of the Founders of NDTV that is said to be still in operation.
NDTV further stated that it was neither party to the SEBI order or the appeal against it and therefore will not have any kind of financial implications in this case.