INSUBCONTINENT EXCLUSIVE:
Shares of NDTV rallied over 40 per cent in two trading sessions after reports that the market regulator Sebi has ordered Vishvapradhan
Commercial to make an open offer
Regulator Sebi on Wednesday ordered a little-known entity, Vishvapradhan Commercial, to make an open offer for NDTV for indirectly
acquiring control of up to 52 per cent stake through a convertible loan of Rs 350 crore in 2009 'sourced' from a subsidiary of Reliance
Industries.
The scrip rallied 20 per cent to Rs 46.80 on June 28
It rallied 20 per cent to Rs 39 in the previous trading session.
Similar movement was seen on NSE, the stock jumped 19.97 per cent to Rs
individually and through their company, i.e., RRPR Holding Private Limited continue to own and hold 61.45 per cent of the total paid up
to ET.
The Bombay High Court yesterday directed the Reserve Bank of India to consider the compounding applications filed by NDTV in a case
of alleged violation of Foreign Exchange Management Act (FEMA)
A bench of justices S C Dharmadhikari and Bharati Dangre set aside objections raised to the compounding proceedings by the Enforcement
Directorate (ED), which had earlier flagged the alleged FEMA violations and issued show-cause notices to NDTV in 2015
