Moneycontrol
Oct 17, 2016 11:19 AM IST | Source: Moneycontrol.com

Goldman Sachs under Sebi's lens for NDTV stake buy in 2008

A report in Business Standard says that Sebi has initiated adjudication proceedings against the two Goldman Sachs entities -- GS Investment Ltd (Mauritius) and GS Mace Holding -- which together had bought 9.13 million shares (14.6 percent) in NDTV back in 2008.


American banking giant Goldman Sachs (GS) is under the Securities and Exchange Board of India's (Sebi) radar for alleged violation of takeover rules while buying NDTV shares.


A report in Business Standard says that Sebi has initiated adjudication proceedings against the two Goldman Sachs entities -- GS Investment (Mauritius) and GS Mace Holding -- which together had bought 9.13 million shares (14.6 percent) in NDTV back in 2008.

Market regulator SEBI has complained that this proceeding was declared on the BSE but these were part of the negotiated agreement between the promoters and GS, and the relevant details pertaining to this deal were not disclosed on the exchanges.

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