SEBI disposes NDTV adjudication proceedings without penalty

New Delhi Television Limited has received relief from the Securities and Exchange Board of India (SEBI) regarding a long-standing regulatory issue. The regulator has disposed of adjudication proceedings against the company, concluding that it did not violate the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as alleged in a Show Cause Notice from 2020. Consequently, no monetary penalty has been imposed on the company.

The dispute originated from a Show Cause Notice issued on January 27, 2020, which alleged non-compliance with Regulation 30 of the SEBI Listing Regulations. The notice concerned disclosures related to certain arrangements entered into in 2009 involving Vishvapradhan Commercial Private Limited (VCPL), RRPR Holding Private Limited, and the erstwhile promoters of the company.

SEBI passed Adjudication Order No. Order/JS/DP/2026-27/32428 on May 29, 2026. The Adjudicating Officer determined that the disclosure obligation alleged in the Show Cause Notice did not arise given the facts and circumstances of the case. The company received this order on June 1, 2026.

The company stated that there is no financial, operational, or other material impact on its activities resulting from the order. The disclosure was made to BSE Limited and the National Stock Exchange of India Limited in compliance with SEBI master circular SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Key Details of the SEBI Order

S. No.	Detail	Information
1.	Name of the authority	Securities and Exchange Board of India ('SEBI')
2.	Nature of action	Adjudication Order No. Order/JS/DP/2026-27/32428 dated May 29, 2026 passed by the Adjudicating Officer, SEBI in the matter of New Delhi Television Limited.
3.	Date of receipt	June 1, 2026
4.	Alleged violation	Non-compliance with Regulation 30 of the SEBI Listing Regulations in relation to disclosures concerning certain arrangements entered into in 2009.
5.	Impact	There is no financial, operational or other material impact on the Company arising from the Order.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.78%	-4.82%	+5.02%	-1.61%	-36.04%	+47.80%

New Delhi Television Limited has terminated the services of Mr. Nikhil Guliani, Chief Legal and Regulatory Officer, effective May 29, 2026. The cessation of service occurred upon separation, as disclosed in a regulatory filing submitted to the exchanges. The company informed BSE Limited and the National Stock Exchange of India Limited about the change in senior management personnel pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure was made in compliance with SEBI circular SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The filing detailed the reason for the change as the termination and cessation of service upon separation. The specific date of cessation was recorded as May 29, 2026. The term of appointment was noted as not applicable in the provided annexure.

Details of Change in Senior Management

The following table outlines the key details regarding the change in personnel:

S. No.	Details of event(s)	Information of such events(s)
1.	Name of Senior Management Personnel	Mr. Nikhil Guliani, Chief Legal and Regulatory Officer
2.	Reason for change	Termination and cessation of service upon separation
3.	Date of cessation & term of appointment	Date of Cessation: May 29, 2026 Term of appointment: Not applicable
4.	Brief profile	Not Applicable
5.	Disclosure of relationships between Directors	Not Applicable