Market regulator Sebi on Thursday slapped a fine of Rs 2 crore on New Delhi Television (NDTV) for late disclosure of information about a Rs 450-crore income tax notice the media company had re ceived in February 2014. Seb fined NDTV for violating List ing Agreement and Securities Contracts (Regulation) Act the regulator's order said.According to Sebi, in February 2014, NDTV received a tax demand of Rs 450 crore from the income tax department for the assessment year 2009-10. How ever, although the information was material in nature, NDTV informed the stock exchanges more than three months later, in late May 2014. Sebi said the delay in disclosure was a failure on the part of NDTV to comply with the Listing Agreement.In its order, Sebi said that as a listed entity, NDTV had the responsibility to comply with disclosure norms in “accordance with the letter, spirit, intention and purpose so that the investors could take a decision whether to buy , sell, or hold its securities. Non-compliancedelayed compliance with disclosure requirements by a listed company undermines the regulatory objectives and jeopardis es the achievement of the underlying policy goals“.Sebi also said that correct and timely disclosures are also an essential part of the proper functioning of the securities market and failure to do so results in preventing investors from taking well-informed decisions. The order, however, noted that there was no substantial change in NDTV's stock price after the disclosure was made and it was a standalone violation for the company.