Bombay HC sets asides Sebi order, says NDTV

New Delhi: Private TV channel NDTV on Thursday said it has got relief from the Bombay High Court, which has set aside an order passed by the market regulator Sebi.

Sebi had rejected NDTV's plea on condonation of delay in filing settlement applications before the market regulator after it initiated adjudication proceedings against the private TV channel for alleged violations of the Securities Contract (Regulation) Act, 1956.

"Bombay High Court has ruled in favour of NDTV in a writ petition filed by the company. In its order, dated September 4, 2019, the High Court said Sebi has committed a serious error, said a BSE filing by NDTV. NDTV in its writ petition had challenged the orders passed by Sebi on August 23, 2017 and August 31, 2017, rejecting settlement applications filed by the company.