SAT upholds Rs 2 cr fine on NDTV for disclosure lapses

The Securities Appellate Tribunal on Wednesday upheld the Sebi’s decision to impose Rs 2 crore penalty on media group NDTV in a case of disclosure lapses regarding tax demand of Rs 450 crore.

The tribunal also upheld Rs 19 lakh penalty imposed by Sebi on the company as well as three officials, including promoters Pranoy Roy and Radhika Roy.

The SAT ruled that Rs 2 lakh fine imposed on the firm’s compliance officer, Anoop Singh Juneja, for violating listing agreement was unjustified.

Juneja was liable to pay a fine of Rs 1 lakh for violating norms pertaining to code of corporate disclosures practices under the Insider Trading norms, according to the SAT order.