I-T Dept attaches NDTV promoter firm’s shares
The shares have been attached under Section 281B of the Income Tax Act
NDTV Ltd on Thursday informed stock exchanges that the Income Tax Department has provisionally attached all the equity held by RRPR Holding Pvt Ltd, one of the promoters companies of the firm. RRPR Holdings currently holds 1,88,13,928 equity shares.
The shares have been attached under Section 281B of the Income Tax Act. RRPR said it is in the process of seeking legal advice in the matter to take appropriate action.
Earlier this week, the Securities and Exchange Board of India had disposed of proceedings against promoters Prannoy Roy, Radhika Roy and RRPR Holdings in a case related to alleged delay in disclosure about their aggregate shareholding in NDTV.