SAT stays SEBI’s order barring NDTV promoters from key posts

Agencies
June 19, 2019

Mumbai, Jun 19: The Securities Appellate Tribunal on Tuesday stayed the SEBI's order barring news channel NDTV's promoters - Prannoy Roy and Radhika Roy - from holding any key managerial positions in the board or the management of NDTV.

"..we stay the effect and operation of the impugned order dated June 14, 2019 till the next date of hearing.

"We accordingly, grant the respondent six weeks time to file a reply from today (Tuesday). Three weeks thereafter to the appellants to file a rejoinder," the SAT said in its order.

The SAT also said that "it finds that the whole world knows about the impugned order except the appellants".

"Till date they have not been supplied a copy of the impugned order in spite of the oral direction given by this Tribunal yesterday (Monday)...," it said.

"We accordingly, direct the appellants to apply for a certified copy of the impugned order. If such an application is made, the SEBI will provide a certified copy of the impugned order within five working days," the tribunal added.

The matter would be listed for admission and for final disposal on September 16, it said.

Securities market regulator SEBI on June 14 debarred the Roys from holding any key managerial positions in the Board or the management of the news channel company for being "involved in fraudulent acts".

Additionally, along with RRPR Holdings, they have been debarred from accessing the stock markets or selling their holdings in the news channel. The Roys were also found to be in violation of NDTV's code of conduct, SEBI said in an order.

The order came after the SEBI carried out an investigation into allegations against the Roys and RRPR Holdings for not disclosing material information to the shareholders of NDTV about loan agreements entered into by them with Vishva Pradhan Commercial Private Ltd.

NDTV was incorporated in 1988 and is listed on the BSE and the NSE.

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News Network
March 11,2020

Mar 11: Thirteen of the 22 rebel MLAs in Madhya Pradesh have given an assurance that "they are not leaving the Congress", senior party leader Digvijaya Singh said on Thursday while expressing confidence that the Kamal Nath-led government in the state will win a floor test.

"We are not keeping quiet. We are not sleeping," Singh told PTI, a day after Congress leader from the state Jyotiraditya Scindia quit the Congress and 22 MLAs submitted their resignations from the assembly in Madhya Pradesh.

Scindia was offered the post of Madhya Pradesh deputy chief minister but wanted his nominee, Singh said. However, Kamal Nath refused to accept a "chela", he said.

Scindia, he said, could have been a Congress nominee to the Rajya Sabha but "only Modi-Shah" can give a Cabinet post to the "over-ambitious" leader.

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News Network
May 7,2020

Visakhapatnam, May 7: Unconscious children being carried by parents in their arms, people laying on roads, health workers scrambling to attend to those affected by the styrene vapour leak and residents fleeing were some of the scenes that played out near here on Thursday, bringing back grim memories of the 1984 Bhopal gas tragedy.

The leak of styrene, a chemical used to make synthetic rubber and resins, among others, occurred in the wee hours of Thursday while people were still fast asleep.

Women and children were seen lying on roads struggling to breath, reminiscent of the infamous Bhopal gas tragedy when a leak from the Union Carbide plant left around 3,500 dead and many maimed.

The worst-hit Gopalapatnam village reverberated with cries of people for help.

Many people fell unconscious during their sleep, a villager said.

Affected people, suffering writ large on their faces, were rushed to hospitals in autorickshaws and on two wheelers.

Visakhapatnam Collector Vinay Chand said 20 ambulances were pressed into service as soon information about the gas leak was received.

Exposure to styrene, also known as ethenylbenzene, vinylbenzene can affect the central nervous system (CNS), causing headache, fatigue, weakness, and depression.

It is primarily used in the production of polystyrene plastics and resins.

The gas leak took place at LG Polymers chemical plant.

LG Polymers was established in 1961 as "Hindustan Polymers" for manufacturing Polystyrene and its co-polymers at Visakhapatnam. It merged with McDowell & Co. Ltd of UB Group in 1978, according to the company's website.

Taken over by LG Chem (South Korea), Hindustan Polymers was renamed LG Polymers India Private Limited (LGPI) in July, 1997.

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News Network
April 3,2020

New Delhi, April 3: The Government on Thursday launched a mobile app developed in public-private partnership as part of efforts to contain the spread of coronavirus.

"The app, called 'AarogyaSetu' will enable people to assess themselves the risk for their catching the coronavirus infection," an official release said.

It said that the app will calculate this based on their interaction with others, using cutting edge Bluetooth technology, algorithms and artificial intelligence.

"Once installed in a smartphone through an easy and user-friendly process, the app detects other devices with AarogyaSetu installed that come in the proximity of that phone. The app can then calculate the risk of infection based on sophisticated parameters," the release said.

It said that the app will help the government take necessary timely steps for assessing risk of spread of COVID-19 infection and ensuring isolation where required.

"The app's design ensures privacy. The personal data collected by the app is encrypted using state-of-the-art technology and stays secure on the phone till it is needed for facilitating medical intervention," the release said.

It said the app is available in 11 languages and has highly scalable architecture.

"This app is a unique example of the nation's young talent coming together and pooling resources and efforts to respond to a global crisis. It is at once a bridge between public and private sectors, digital technology and health services delivery," the release said.

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