Sebi nod not needed for NDTV risk acquisition: Adani Group

New Delhi: Adani team on Friday denied NDTV’s assertion that Sebi authorization is essential to obtain passions in RRPR, stating the marketer entity is not a component of the regulatory authority’s order that controlled Prannoy and also Radhika Roy from accessing the protections market.

Terming the opinions elevated by RRPR as “baseless, legally untenable and devoid of merit”, Vishvapradhan Commercial Private Ltd (VCPL) claimed the holding company is “bound to immediately perform its obligation and allot the equity shares” as defined in theWarrant Exercise Notice

In a regulative upgrade, Adani Enterprises Ltd claimed VCPL has actually obtained a reply in behalf of NDTV and also RRPR over the Warrant Exercise Notice dated August 23, 2022. In the reply, NDTV and also RRPR claimed market regulatory authority Sebi passed an order on November 27 last year versus Prannoy Roy and also Radhika Roy, limiting them to access the protectionsmarket Hence, prior created authorization from the Securities and also Exchange Board of India (Sebi) is needed for the workout of the conversion choice on the Warrants, the letter had actually claimed.

Rejecting it, VCPL has actually reacted that”RRPR is not a party to the Sebi Order dated 27th November 2020. Consequently, the restraints as pointed out by RRPR in paragraphs 111(b) and 112 of the Sebi Order do not apply to RRPR” The Warrant Exercise Notice was provided by its subsidiary VCPL under an agreement, which is binding on RRPR, it included.