Mumbai 25 August : The Securities and Exchange Board of India (SEBI) in November 2020 had prohibited its promoters from gaining access to the market for securities and further prohibiting the purchase or selling or trading in securities, either directly or indirectly, or being connected with the market for securities in any way for the duration of two years, NDTV said in a regulatory filing.NDTV stated that unless the an appeal proceeding was able to be successful the appeals process, the prior SEBI approval is required to allow the Adani group to obtain 99.5 percent in the promoter group entity , as it would result in the acquisition of voting rights in respect of 29.18 percent held by RRPR Holdings in the news network.
Vishvapradhan Commercial Private Limited (VCPL) the acquirer in question, along with AMG Media Networks and Adani Enterprises on Tuesday has offered an open bid for NDTV in the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Information in conformity with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 will be made available to VCPL.
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