Tuesday, October 27, 2020
Home India ED notice to NDTV for 'FEMA violation', not legally tenable says channel

ED notice to NDTV for ‘FEMA violation’, not legally tenable says channel

New Delhi: The Enforcement Directorate (ED) has issued a show-cause notice to private broadcaster NDTV about alleged violations of Foreign Exchange Management Act (FEMA) as the latter said it was not “legally tenable”.

The company, in a filing to the Bombay Stock Exchange, said it had on Thursday (November 19) received a show-cause notice in the name of Executive Co-Chairpersons Prannoy Roy and Radhika Roy as well as Executive Vice-Chairperson KVL Narayan Rao and NDTV Studios Ltd from the Directorate of Enforcement as to why adjudication proceedings should not be held for alleged contraventions of provisions of FEMA.

NDTV said it had been advised that the allegations of the contraventions of provisions of FEMA in the show cause notice were not legally tenable and it will reply to the same in due course of time.

NDTV had filed the notice during market hours, resulting in a sharp fall in its stock price by 7 percent. The stock which opened at Rs 87.35 on Friday morning fell sharply to Rs 82.40 before recovering to Rs 85.75, a decline of 2.56 per cent.

(IANS)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,779FollowersFollow

Most Popular

Lack of Monitoring Stations to Quantify Air Pollution in India

With Delhi facing another tryst with air pollution, several environmental experts believe that the problem goes beyond the national capital and that the country...

Nutritious Snacks for the Virtual School Breaks

The pandemic has forced children to go back to school with virtual learning having swapped classroom teaching. Although school in 2020 may look way...

Books that Address Children’s Mental Health

In these unprecedented times, when isolation fatigue, gloom, and the fear of losing a beloved has also come to grip children, taking care of...

Air Pollution Linked to 15% of COVID Deaths Worldwide

In a major global study, researchers have revealed that long-term exposure to air pollution may be linked to 15 percent of COVID-19 deaths worldwide. According...

Ketogenic Diet could Prevent or Reverse Heart Failure

Heart problems? A special diet might help as researchers have found that the popular and controversial ketogenic diet could completely prevent, or even reverse...

Technology to Produce Psychoactive Drugs by IIT Guwahati

Indian Institute of Technology Guwahati (IIT-G) on Tuesday said its researchers have developed a low-cost membrane technology to produce psychoactive drugs and anti-aging compounds...

Fashion Hubs Burgeon into Fresh Farm Outlets

In recent days, people passing by some of the biggest fashion hubs in Mumbai rub their eyes in disbelief at what they behold. Instead of...

Weather Conditions for the Northeast Monsoon Fit Together

Weather conditions for the commencement of the northeast monsoon over parts of the extreme south peninsula are favorably falling in place as the withdrawal...

Recent Comments