New Delhi March 18 (IANS) Securities market regulator Sebi has fined media organisation NDTV and four individuals for lapses in mandatory disclosure.
According to a Sebi order dated March 16 NDTV has been fined Rs 10 lakh.
Besides the firm the regulator has fined -- Prannoy Roy Radhika Roy Vikramaditya Chandra and Anoop Singh Juneja -- Rs 3 lakh each.
"These people constitute the management of the company who are responsible for the day-to-day and overall operations of the company. Further it is an admitted fact that the decision not to disclose the tax demand was a conscious decision taken by the management of NDTV " the order read.
The order comes after Sebi conducted an investigation based on a complaint received from Quantum Securities (QSL) a shareholder of NDTV that the firm did not disclose the order of "Dispute Resolution Panel-II (DRP-II) of the Income Tax Department within 2 days of receipt of information to the stock exchanges".
--IANS
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