Capital markets regulator Sebi today disposed of proceedings against Prannoy Roy, Radhika Roy and RRPR Holdings Pvt Ltd in a case related to alleged delay in disclosure about their aggregate shareholding in NDTV Ltd.
The three are among the promoters of NDTV and the case relates to their alleged delay in disclosing their aggregate shareholding and voting rights in the company after the end of the 2011-12 fiscal.
Under Sebi norms, promoter entities are required to make disclosures regarding the aggregate shareholding and voting rights as of March 31 within seven working days from the end of each financial year to stock exchanges concerned.
"I am of the opinion that the allegation of delayed disclosures under...SAST (Substantial Acquisition of Shares and Takeover) 2011 to BSE and NSE against the noticees (Roys and RRPR Holdings) does not stand established," Sebi General Manager and Adjudicating Officer K Sarvanan said in an order.
Accordingly, the regulator has disposed of the adjudication proceedings initiated against them.
It was alleged that Roys and RRPR Holdings failed to comply with SAST regulations during 2011-2012. Further, it was alleged that there was a delay of 64 days and one day in making disclosures about their shareholding to the BSE and the NSE, respectively, at the end of March 31, 2012.
After examining the matter, Sebi found that these entities had made the requisite disclosures under the SAST rules to both the BSE and the NSE as well as to other shareholders of the company within the stipulated time.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Tata Power Q4 Results Preview: Tata group electricity generator likely to clock 22% PAT jump, 193 bps margin improvement
Gold and Silver rate today (May 7, 2024): Precious metals subdued; yellow metal above Rs 71,300; white metal above Rs 82,850
Aadhar Housing Finance IPO: Check Anil Singhvi's view on Rs 3,000 crore issue | Subscription, allotment dates and other details
5 investment schemes that provide monthly pension to senior citizens fixed deposit fds savings scss guaranteed return atal pension yojana post office monthly income swps mutual fund
06:59 PM IST