The Securities Appellate Tribunal (SAT) on Thursday quashed a Sebi order that barred NDTV founders Prannoy Roy and Radhika Roy from the securities market for two years in an insider trading case. However, the appellate tribunal partly set aside an order against Vikramaditya Chandra, the group's chief executive officer during the relevant period, and remitted the matter back to Sebi to decide the issue. It further said that trades executed by Chandra during PSI-3 (price-sensitive information) are required to be reconsidered, according to the order passed by SAT.
It is alleged that the company floated 32 subsidiaries in several tax haven countries to bring foreign funds to India through sham transactions.
Blackstone, one of the world's largest private equity funds, is negotiating with the NDTV group for a stake in NDTV Networks, a new company, as part of an investment consortium.
Indian television company NDTV is in advanced stages of negotiations with NBC Universal, a subsidiary of New York Stock Exchange-listed General Electric to sell between 25 and 30 per cent in its UK-based subsidiary NDTV Networks Plc.
Turner International is close to acquiring a controlling stake in entertainment company NDTV Imagine, which runs three entertainment channels.
NDTV Imagine, the entertainment wing of Prannoy Roy-promoted NDTV Network, is close to forming a 50:50 joint venture with Manmohan Shetty - the former promoter of Adlabs - to enter film production.
Leading TV channels will see a blackout of spot advertising from midnight tonight after Hindustan Unilever, Procter & Gamble, Airtel, Pepsi, Coca-Cola and Reliance Communications, among others, directed their media-buying agencies not to book such advertisements on 16 news and entertainment channels, including NDTV, Network 18, Zee News, Star News, starting October 16.
'Ever since Mr Modi has come to power NDTV has been facing inquiries from different agencies of the government.' 'Those close to the ruling party have been openly advocating that the government use all powers to ensure that NDTV shuts shop.'
With 18 advertising deals in its kitty, NDTV Imagine determinedly chases the Rs 300 crore (Rs 3-billion) plus revenue target. In the latest TAM report (4 years plus viewers in cable and satellite homes in the Hindi-speaking markets) the channel shares the number three slot with Sony, ahead of Sahara, Star One, Sab and 9X.
US-based NBC Universal is in talks with NDTV to pick up a stake in the latter's UK-based subsidiary, NDTV Networks. The subsidiary operates NDTV Imagine and NDTV Convergence, among others.
The I-T department had issued re-assessment notice in March 2015 to the media group after noting that Rs 642 crore has allegedly not been computed for the tax assessment purposes of NDTV for financial year 2007-2008.
The project, called e-basha, is a critical part of the ambitious Digital India programme.
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