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Sebi files petition in Supreme Court against SAT decision in NDTV case

New Delhi: The Securities and Exchange Board of India (Sebi) has petitioned the Supreme Court (SC) to overturn a decision made by the Securities and Appellate Tribunal (SAT) in a case involving a change of ownership at New Delhi Television (NDTV), The Business Standard reported quoting sources. In a ruling dated July 20, SAT rejected […]

Edited By : Vikas Kumar | Updated: Oct 20, 2022 11:45 IST
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New Delhi: The Securities and Exchange Board of India (Sebi) has petitioned the Supreme Court (SC) to overturn a decision made by the Securities and Appellate Tribunal (SAT) in a case involving a change of ownership at New Delhi Television (NDTV), The Business Standard reported quoting sources.

In a ruling dated July 20, SAT rejected Sebi’s claim that Vishwapradan—a company connected to the Reliance group from which NDTV promoters borrowed money—had influence over NDTV through its ownership of the debentures.

Also Read: LIC Dhan Varsha Plan: How this policy can get you 10 times money, know details

According to sources, Sebi filed an appeal with the SC to prevent the SAT order from creating a precedent where promoters of listed businesses convert loans into shares without triggering an open offer.

Read More :- Latest Business News

First published on: Oct 19, 2022 08:12 PM IST

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