NDTV today said it has moved the Bombay High Court against the markets regulator Sebi's rejection of its settlement applications filed by the company and then key managerial persons.
Earlier in September, the New Delhi Television Ltd (NDTV) had informed that the Securities and Exchange Board of India (Sebi) rejected the settlement applications filed by it and the then key managerial personnel.
"In this regard, we wish to inform that based on legal advice, the company today filed a writ petition before the High Court of Bombay against rejection of application(s) for condonation of delay by Sebi vide its letter dated August 23 and August 31, 2017 and thereby returning the settlement application(s) dated March 21, 2017 and July 24, 2017 respectively," it said in a regulatory filing.
In September, NDTV had informed about a communication from Sebi saying the regulator had rejected the condonation application filed by the company with respect to certain alleged non-compliances in respect of delay/non-filing of disclosures in previous years under Sebi Takeover Regulations, 1997.
Stock of NDTV today closed 1 per cent down at Rs 59.65 apiece on the BSE.
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