Why NDTV did not disclose Rs450 crore tax notice to exchanges  

May 30, 2014

NDTV has argued that the matter was “sub-judice” and that it has received a stay. Other listed companies, including Infosys, however, time and again have disclosed such information to the bourses

Moneylife Digital Team

Prannoy Roy-led New Delhi Television Ltd (NDTV), was served a Rs450 crore demand notice by income tax (I-T) in February this year. However, NDTV did not inform the BSE or National Stock Exchange (NSE) about this, which it is a alleged violation of listing norms. When BSE and NSE asked NDTV about this, the company argued that the demand notice was "without any basis or justification and contrary to provisions of Income Tax Act, 1961 and had resulted only due to erroneous and incorrect view taken by the tax department". Hence NDTV saw it fit not to disclose anything about it.