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In total, a settlement charge of about 45 lakh rupees was imposed. SEBI said that in all three cases, Dish TV paid the settlement charge on 4 and 8 February. After this the case was over
- SEBI gave information in 3 different orders on Wednesday
- Settlement charge amount paid on 4th and 8th February
Dish TV has settled with the stock market regulator Sebi. For this, he has paid 45 lakh rupees. This settlement has happened in case of breaking all the rules. Sebi gave this information in 3 different orders on Wednesday.
Investigation against direct media distribution
SEBI said that Dish TV promoter Direct Media Distribution Venture was investigated from 21 December 2016 to 30 September 2019. The investigation found that it violated all the rules. SEBI issued a show cause notice on 11 September 2020. After which the matter settled.
Not disclosed in time
SEBI said that during the investigation, it was found that the transactions done by its promoters in Dish TV were not disclosed within the stipulated time. It was found that Dish TV delayed disclosures on 9 such occasions. Two of these revelations were those involving the release of pledged shares. Both these cases were reported to Sebi by 72 days late.
940 days late information given
Investigation revealed that Dish TV delayed several disclosures by 940 days. In the first order, SEBI imposed a settlement charge of Rs 29 lakh 8 thousand 594 on its promoter. The SEBI committee approved the settlement on 11 January 2021. On 8 February, Dish TV paid the settlement charge.
World Crest also violated rules
Similarly, in the second order, Sebi said that Dish TV promoter World Crest Advisors violated the rules. It was investigated from 21 December 2016 to 30 September 2019. SEBI found that many times the transactions were not disclosed. Subsequently, SEBI issued a show cause notice and the matter reached the settlement. SEBI imposed a settlement charge of Rs 7 lakh 70 thousand 313 in this case.
Dish TV also has a settlement charge
Dish TV was made a party in the third order. SEBI said that at the same time it also delayed disclosing the transaction. It revealed a delay of 66 days and 76 days in two cases. Due to this Sebi imposed a settlement charge of 8 lakh 20 thousand 782. In this way, a total settlement charge of about 45 lakh rupees was imposed. SEBI said that in three cases the settlement charge was filed on 4 and 8 February. After this the case was called off.