NDTV to file appeal against Sebi's Rs 12L fine order for disclosure lapses

NDTV to file appeal against Sebi's Rs 12L fine order for disclosure lapses

 

 

Sebi

News broadcaster New Delhi Television Ltd (NDTV) Wednesday said it will be file an appeal against Sebi's decision to impose a penalty of Rs 12 lakh on the company for failing to make timely disclosures to the stock exchanges.
NDTV, however, said it is yet to receive the penalty order from the Securities and Exchange Board of India (Sebi).
"The company will be filing an appeal against the said order if and when the same is received by the company, and as per advice received by the company, this order is likely to be set aside in appeal," NDTV said in a regulatory filing.

The capital markets regulator noted that Indiabulls Financial Services in January 2008 acquired 40 lakh shares of NDTV, amounting to 6.40 per cent of the total share capital of the firm.

Further, the promoters of NDTV acquired 20.28 per cent of the total share capital of NDTV pursuant to an open offer in July 2008, Sebi said in an order dated Jun 17.

Post the transaction, the entities were to make requisite disclosures to NDTV under relevant provisions of SAST norms, while NDTV in turn was supposed to report the same to BSE as well as NSE, it added.

However, as per the order, the media company made inordinate delay in making disclosures related to the change in shareholdings of its promoters and Indiabulls Financial Services.

Consequently, a penalty of Rs 12 lakh has been imposed on NDTV which shall be payable "jointly and severally" by the media company, it said.

On Tuesday, NDTV said the Securities Appellate Tribunal has stayed Sebi's order banning its three promoters - Prannoy Roy, Radhika Roy and their holding firm - from the capital markets for two years.

Last week, the regulator barred NDTV's three key promoters -- Prannoy Roy, Radhika Roy and their holding firm RRPR Holdings -- from the capital markets for two years and also restrained the two individuals from holding any board or top management role at the company in this period.

The Roy couple was also barred from holding a board or key managerial position at any other listed company for one year, Sebi had said while coming down heavily on them for violating various regulations by keeping minority shareholders in the dark about three loan agreements.

NEW ZEALAND ECONOMY GROWS 1.1 PERCENT IN SEPTEMBER QUARTER

WELLINGTON, New Zealand (AP) — New Zealand's economy grew at a brisk rate of 1.1 percent in the September quarter as people spent more on traveling, eating out and recreation.

Figures released Thursday by government agency Statistics New Zealand show the economy grew at an annual rate of 3.5 percent when comparing the September quarter with the same period last year. One of the fastest growing industries was construction, which grew by more than 2 percent during the quarter.

The figures beat predictions by most economists and gave a boost to the nation's new conservative prime minister, Bill English. English took over the top job this month from John Key, who unexpectedly resigned, saying he wanted to spend more time with his family.

New Zealanders go to the polls for a general election next year.

Finance Minister Steven Joyce said in a statement that over the past few years, growth in tourism and education had offset a downturn in the market for the country's key dairy exports.

"New Zealand's focus on developing a strong and open economy is delivering good results for kiwi families, especially relative to most of the rest of the developed world," Joyce said.

New Zealand's currency was little changed on the news.

By Jio Express News

Donald Trump On Nuclear Weapons Tweets 'Let It Be An Arms Race': Report

US President-elect Donald Trump, asked to clarify his comments about expanding US nuclear weapons capability, said, "Let it be an arms race," and that the United States would win it, MSNBC reported on Friday.

Trump had alarmed non-proliferation experts on Thursday with a Twitter post that said the United States "must greatly strengthen and expand its nuclear capability until such time as the world comes to its senses regarding nukes."

MSNBC's Mika Brzezinski spoke with Trump on the phone and asked him to expand on his tweet. She said he responded: "Let it be an arms race. We will outmatch them at every pass and outlast them all."

Shares of uranium producers and a nuclear fuel technology company have jumped on Trump's comments with Uranium Resources Inc, Uranium Energy Corp, Cameco Corp and Lightbridge Corp all trading higher on Friday.

It was not clear what prompted Thursday's tweet by Trump, a Republican who takes office on January 20, but it came the same day Russian President Vladimir Putin said his country needed to boost its nuclear forces.

In his year-end news conference in Moscow on Friday, Putin said Trump's comment on Wednesday was not out of line and that he did not consider the United States to be a potential aggressor.

Trump spokesman Sean Spicer said in several television interviews on Friday that there would not be an arms race because the president-elect would ensure that other countries trying to step up their nuclear capabilities, such as Russia and China, would decide not to do so.

"He's going to ensure that other countries get the message that he's not going to sit back and allow that," Spicer, who was named this week as White House spokesman for the president-elect, told NBC. "And what's going to happen is they will come to their senses, and we will all be just fine."

By Aron Ranen

UN--United Nations-Syria-Crimes

(AP) — The U.N. General Assembly has voted to establish an investigative body that will assist in documenting and prosecuting the most serious violations of international law in Syria, including possible war crimes and crimes against humanity.
The 193-member world body adopted a resolution Wednesday by a vote of 105 to 15 with 52 abstentions over strenuous objections from Syria and close ally Russia who accused the assembly of interfering in the work of the Security Council.
The resolution stresses the need for the new body "to closely coordinate" with an independent commission appointed by the U.N. Human Rights Council which has said war crimes are "rampant" in Syria.
Syria's U.N. Ambassador Bashar Ja'afari said the resolution was illegal and "a direct threat to a solution" of the 5 1/2-year Syrian conflict.


By - Jio Express News

Bank of Baroda joins hands with AIFF for U-17 World Cup

ent next year, India is bracing to ties its laces and have a good run in the World Cup.

All India Football Federation president and chairman of the local organising committee Praful Patel said, “As an organisation that has a long affiliation with sports, Bank of Baroda shares our enthusiasm to develop and strengthen football in India. As president of the AIFF, I am committed to ensuring that football development in India gets the support it deserves."

Tournament Director Javier Ceppi was not surprised by the keen interest in the National Supporter slots. "This is a landmark event in Indian sport. It is the first ever FIFA tournament to be hosted by India, with the country taking part in it. This is a unique opportunity to be partners in making football history in this country. Joining in at this early stage, Bank of Baroda will have the added advantage of ten months of exposure with the FIFA U-17 World Cup."

Increasing awareness and participation in sports has become a key focus for the leading state-owned bank which positions itself as India’s International Bank.

“We are highly motivated to promote football across the country and to inspire a new generation of youngsters. Partnering with the FIFA U-17 World Cup India, 2017 was a logical choice for us, as there is no bigger sporting event that the country will see next year. It is truly an Indian crusade to make sure that this tournament succeeds and engages our complete population. We are sure that our strong banking network across the nation will help to make that happen and we are excited about becoming the first National Supporter for the Event,” said Bank of Baroda general manager (marketing, corporate communications & WMS) Rakesh Kumar Bhatia.

With the signature of the agreement, Bank of Baroda has thus become the first of the six National Supporters that the FIFA U-17 World Cup India 2017 can have. The Tournament will be held from October 6th to 28th, 2017.

Pakistan Senate Seeks Demonetisation Of Rs 5,000 Notes

The Pakistan Senate on Monday passed a resolution seeking withdrawal of high denomination Rs 5,000 currency notes in order to curb the flow of black money.

Senator Usman Saif Ullah Khan of the Pakistan Muslim League tabled the resolution that was endorsed by the majority of law makers in the upper house of Parliament.

The resolution said that the withdrawal of Rs 5,000 notes from circulation will encourage the use of bank accounts and reduce the size of the undocumented economy.

It said the withdrawal of the currency notes should take place within three to five years in order to purge markets of these notes.

Law Minister Zahid Hamid, however, said that the withdrawal of the notes will create crises in the market and the people will resort to foreign currencies in the absence of Rs 5,000 notes.

He said that currently 3.4 trillion notes were in circulation in country, and of these 1.02 trillion notes were of Rs 5,000 denomination.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

HACKERS HIT THAI SITES TO PROTEST RESTRICTIVE INTERNET LAW

BANGKOK (AP) — Hackers saying they are protesting the passage of a bill restricting internet freedom have been attacking Thai government computer servers, temporarily disabling public access and reportedly copying restricted documents.

A Facebook group called for people to deny access to government sites by repeatedly reloading them, a simple version of a distributed denial of service, or DDoS, attack. The tactic apparently forced the Defense Ministry website to be temporarily offline Monday. Other reported targets included the Ministry of Digital Economy and Society, the Prime Minister's Office and the Office of the National Security Council.

'blackplans,' a hacker identifying himself on Twitter as part of the informal activist network Anonymous, posted screenshots Friday of what he said were documents taken from government websites in protest.

The new law would allow Thailand authorities to intercept private communication and to censor websites without a court order.

"The bill is very broad and open to interpretation and we will have to see how the government will implement these laws," said Arthit Suriyawongkul of the Thai Netizen Network, which promotes online freedom.

A small public street protest occurred in Bangkok on Sunday.

The bill was approved by the military-appointed legislature in a unanimous vote last Friday despite significant opposition. Critics say the new legislation could be used to silence critics of the military regime, which overthrew a civilian government in 2014.

"This is cyber warfare, which means damages and losses are inevitable," said the Facebook group that urged Monday's attacks, Citizens Against Single Gateway. "This (internet bill) vote was like a coup against the online world and these are the counter measures against that coup."

Activists are also concerned about plans for a single gateway through which all international internet traffic would pass. The government claims such a system is necessary for national security, but opposition from many sectors has made the government evasive about whether it plans to implement a single gateway.

"We are concerned by amendments to Thai legislation that could threaten online freedoms, and call on the Government to ensure the country's cyber laws comply to international human rights standards," said the U.N. Office of Human Rights in a statement Monday.

Thailand's defense ministry said the DDoS attacks accomplished little.

"They couldn't do anything because we have defense systems in place that are ready for such situations," said Kongcheep Tantrawanich, a Defense Ministry spokesman. He warned against further attacks, saying that "destroying financial systems, banks, transportation systems, and airports, can cause damage toward the population of an entire country."

The government asked members of the public to submit photos and other information about the hackers, whom they called "thugs" who were "overstepping boundaries" and "creating chaos."

But the group posted that they can "manage under any circumstances" and told followers to keep up the attacks.

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