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Sebi issues show-cause notice to Vishvapradhan Commercial in NDTV case

N Sundaresha Subramanian

Informs complainant of proceedings into alleged change in control violation

Topics
Ndtv Case

The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to Vishvapradhan Commercial (VCPL) for not making public announcement and open offer after acquiring control over substantial promoter holding in New Delhi Television (NDTV).

Sebi has said this in a letter issued to the complainant, Quantum Securities, a minority shareholder of the broadcaster, in connection with a writ petition pending before the Delhi High Court. In the letter dated July 21, an official in Sebi’s corporation finance department said that the regulator had filed a reply to the ...

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First Published: Sat, September 02 2017. 23:59 IST