Sebi fines NDTV Rs 5 cr over disclosure lapses; company to appeal against order

New Delhi Television Ltd (NDTV) on Tuesday said it will appeal against market regulator Sebi’s order imposing a fine of Rs 5 crore on the company for alleged failure to disclose price-sensitive information about certain loan agreements.

The company, in a regulatory filing, said that it has been advised by lawyers that the Sebi order is inter alia based on an inaccurate assessment of facts and will not withstand scrutiny in appeal.

In its order on Tuesday, Sebi also said that the loan agreements had clauses and conditions that substantially affected the functioning of the media company.