Adani-NDTV: adani Group rejects the claim of SEBI approval for NDTV's share acquisition, here's the argument

Adani Group has rejected Sebi's claim for the acquisition of shares of NDTV. adani Group has said that the RRPR is not part of the regulator's (SEBI) order. adani Group's subsidiary VCPL has said that the ban imposed by SEBI on NDTV Group will not hinder the process of taking a stake in NDTV.

VCPL has termed the arguments raised by RRPR as "baseless, legally untenable and without merit", saying that the holding firm is bound to discharge its obligation immediately and allot equity shares. A such warrant is specified in the exercise notice

Earlier, NDTV had said in the information given to the stock exchange that the Securities and Exchange Board of india (SEBI) on november 27, 2020, had prohibited promoters Prannoy and radhika Roy from buying and selling shares in the securities market. This ban ends on 26 november 2022. "Till the pending appeal proceedings are not completed, the proposed acquirer would require SEBI approval for 99.5 percent of the promoter group's shares," the company said. adani Group's subsidiary VCPL has said that the ban imposed by SEBI on NDTV Group will not hinder the process of taking a stake in NDTV.

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Adani-NDTV

D N INDUJAA

26/08/2022 01:02 PM