Sucheta Dalal :I-T dept moves to block NDTV\'s capital reduction plan
Sucheta Dalal

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I-T dept moves to block NDTV\'s capital reduction plan  

June 5, 2014

Income Tax department has alleged that NDTV concealed material facts from the High Court, including its move to reduce its capital, merger between two subsidiaries and mortgaging property worth Rs50 crore without the I-T dept\'s knowledge

 

Moneylife Digital Team

 

On 6 May 2014, The Delhi High Court judge, Justice Sanjeev Sachdeva issued a notice to the National Stock Exchange (NSE), BSE and market regulator Securities and Exchange Board of India (SEBI) following a submission by the Income-Tax (I-T) department in its Rs450 crore tax demand from New Delhi Television Ltd (NDTV).

 

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-- Sucheta Dalal