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NDTV declares sale of strategic assets. Will CBI, ED & IT act?

Author: Team PGurus
Publication: PGurus.com
Date: April 17, 2017
URL:   https://www.pgurus.com/ndtv-declares-sale-of-strategic-assets-will-cbi-ed-it-act/

NDTV writes to BSE, NSE declares intent to sell strategic assets

NDTV on Monday declared to Stock Exchanges that their urgent Board Meeting is convened to sell strategic assets. What are the “strategic assets” of NDTV and are they going to sell the channel are the questions being aired. Who is going to buy NDTV which is facing Income Tax fine of Rs.525 crore and FEMA violation notice of Rs.2030 crore?

Is Prannoy Roy, who is having a palatial home in South Africa trying to flee the country before the agencies catch-up? Is he going the Vijay Mallya or Lalit Modi way?

Is NDTV shutting up shop? Many prominent faces like Barkha Dutt and Vikram Chandra are now claiming that they are not staffers. Are they trying to jump from the sinking ship like rats?

“This is to inform you that as per the Company’s Code of Conduct for Prevention of Insider Trading, the trading window for dealing in the securities of the Company will remain closed from April 17, 2017 till the conclusion of 48 hours from the date of Board Meeting of the Company that is being convened to consider, inter alia, potential sale of certain strategic assets by certain material subsidiary(ies) of the Company,” said NDTV’s letter submitted to Bombay Stock Exchange and National Stock Exchange on April 17.

Is Prannoy Roy, who is having a palatial home in South Africa trying to flee the country before the agencies catch-up? Is he going the Vijay Mallya or Lalit Modi way?

CBI, ED, Income Tax and Delhi Police’s Economic Offences Wing (EOW) are probing several cases against NDTV. The TV channel’s petitions were rejected by Supreme Court also. So this notice to Stock Exchanges for sale of assets must be monitored by the probe agencies.

Earlier in August 2014, Income Tax had issued notice to NDTV, Prannoy Roy and Radhika Roy on a similar situation when Business Standard published news on possible sales or change of shareholding pattern of the TV channel.
 
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