NDTV promoters to appeal against Sebi order

TIL Desk/Business/New Delhi/ NDTV promoters, Prannoy and Radhika Roy, and promoter group company RRPR Holding Pvt Ltd will appeal against the Sebi order that imposed a total fine of Rs 27 crore on them for alleged non-disclosure of certain loan agreements. On Thursday, Sebi imposed the fine on them for violation of various securities norms by concealing information from shareholders regarding certain loan agreements.

According to Sebi, certain loan agreements had clauses that have an adversarial effect on NDTV shareholders. In a filing to the stock exchanges late Thursday evening, the company said Prannoy Roy and Radhika Roy, founders and promoters of NDTV, and promoter group company RRPR Holding Pvt Ltd have repeatedly said that they have never directly or indirectly, through any transactions or agreements, allowed for a transfer of control of NDTV. They continue to own and hold 61.45 per cent of the total paid-up share capital of NDTV, the filing said.