Sun Television Network on Monday clarified that it has not received any communication from any ministry and all its channels continued to be on air.
The company was clarifying to report about the home ministry striking down a proposal from information and broadcasting ministry for giving security clearance to 33 television channels of Kalanithi Maran-promoted Sun TV Network, a move that could lead to cancellation of their broadcasting licence.
"We wish to state that no communication has been received by the company in this regard from any ministry and all our channels continue to be on air", Sun Television Network said in a BSE filing.
Earlier in the day, stocks of the Chennai-based firm tanked nearly 27% to Rs 258 apiece on BSE.
The information and broadcasting ministry has been informed about the decision of the home ministry, which is believed to have taken the stand due to pending criminal cases against Maran and his brother and former union minister Dayanidhi Maran, according to official sources.
The CBI probe pertains to the alleged allotment of 300 high-speed BSNL telephone lines to the residence of former Communications and information technology minister Dayanidhi Maran in Chennai, which were extended to his brother's channel.
There are two other pending criminal probes against Sun TV Network and its owner Kalanithi Maran -- the Aircel-Maxis case being probed by the CBI and one of money laundering handled by the enforcement directorate.