New Delhi Television Ltd

Mr. Sanjay Pugalia and Mr. Senthil Chengalvarayan were appointed as Non-Executive Directors of the Company w.e.f. December 23, 2022. The Board at its meeting held on March 28, 2023 re-designated them as Whole-time Directors w.e.f. April 1, 2023. The Board of Directors has approved the re-designation of Mr. Senthil Chengalvarayan as Non-Executive, Non-Independent Director w.e.f. April 1, 2025.

Mr. Viral Jagdish Doshi was appointed as a member of the Audit Committee of the Company on January 24, 2023. Later, on October 24, 2023, he was re-designated as the Chairperson of the Audit Committee due to resignation of Mr. Upendra Kumar Sinha from the position of Chairperson and Member of the Audit Committee w.e.f. close of business hours on October 23, 2023. On October 29, 2025, he was re-designated as the Member of the Audit Committee due to the appointment of Mr. Upendra Kumar Sinha as the Chairperson of the Committee with immediate effect.

Mr. Viral Jagdish Doshi was inducted as a member of Nomination and Remuneration Committee on January 24, 2023. Further, the Board re-designated him as the Chairperson of the Nomination and Remuneration Committee w.e.f. March 28, 2023.

The Company has received the final assessment order dated January 27, 2026 passed under section 143(3) read with section 144C(3) of the Income tax Act, 1961, wherein an addition of Rs. 6.26 crore has been made on account of fee for undertaking a corporate guarantee. The Company has filed an appeal against the said order before the Commissioner of Income tax (Appeals). The Assessing Officer has raised a demand of Rs. 443.28 crore. The Company has filed a rectification cum stay application before the Assessing Officer, which is presently pending disposal.

The Hon’ble High Court, vide order dated January 29, 2025, set aside the order of the ITAT, holding that the ITAT could not have disregarded the decision of the Special Bench and had not correctly defined the scope of adjudication while remitting the matter to the Assessing Officer (AO). The High Court held that the AO must first determine whether the undertaking given by the Company constitutes an international transaction under section 92B of the Income tax Act, 1961, after providing an opportunity of hearing to the Company. Reference to the Transfer Pricing Officer (TPO) would be made only if such determination is reached. Accordingly, the draft assessment order and the TPO orders passed pursuant to the ITAT remand were set aside. Pursuant thereto, the Company filed its response to the departmental queries. The AO, vide order dated September 24, 2025, disposed of the objections and referred the matter to the TPO. The TPO passed an order under section 92CA dated December 2, 2025 proposing a transfer pricing adjustment of ₹6,27,07,932. Subsequently, the AO passed a draft assessment order dated December 19, 2025.

The order was received on March 6, 2026. The issues relating to disallowance of ESOP expenses, disallowance under section 14A, 40(a)(ia) in respect of commission and transmission and uplinking charges, and disallowance of software expenses have been decided in favour of the Company. Corporate guarantee issue remanded to the Assessing Officer for fresh examination in line with the AY 2008 09 ruling.

An appeal has been filed against the assessment order passed by the Assessing Officer under section 143(3) read with section 144C(13) of the Income-tax Act, 1961, dated 27 January 2016. The order involves (i) disallowance of ESOP expenses, (ii) transfer pricing adjustments in respect of provision for Business Support Services, and (iii) transfer pricing adjustment in respect of the alleged international transaction relating to the provision of Corporate Guarantee.