Prannoy Roy and Radhika Roy issue: SAT stays SEBI’s order barring NDTV promoters from key posts

Must Read

Jharkhand polls for 81 constituencies from November 30 to December 20; counting on 23rd December

Addressing a press meeting today, Chief Election Commissioner Sunil Arora has announced the poll dates for Jharkhand Legislative assembly....

Congress forms six-member committee of AICC to review situation of NRC in Assam

In a bid to review the condition of Assam state after the implementation of the NRC exercise, Congress party...

Shiv Sena elects Eknath Shinde as party’s legislative leader; Sunil Prabhu appointed as chief whip of party

In a striking breakthrough, Shiv Sena elected senior minister Eknath Shinde as the party's legislative leader today. It has...

Mumbai, June 18 (IANS) The Securities Appellate Tribunal on Tuesday stayed the SEBI’s order barring news channel NDTV’s promoters – Prannoy Roy and Radhika Roy – from holding any key managerial positions in the board or the management of NDTV.

“..we stay the effect and operation of the impugned order dated June 14, 2019 till the next date of hearing.

“We accordingly, grant the respondent six weeks time to file a reply from today (Tuesday). Three weeks thereafter to the appellants to file a rejoinder,” the SAT said in its order.

The SAT also said that “it finds that the whole world knows about the impugned order except the appellants”.

“Till date they have not been supplied a copy of the impugned order in spite of the oral direction given by this Tribunal yesterday (Monday)…,” it said.

“We accordingly, direct the appellants to apply for a certified copy of the impugned order. If such an application is made, the SEBI will provide a certified copy of the impugned order within five working days,” the tribunal added.

The matter would be listed for admission and for final disposal on September 16, it said.

Securities market regulator SEBI on June 14 debarred the Roys from holding any key managerial positions in the Board or the management of the news channel company for being “involved in fraudulent acts”.

Additionally, along with RRPR Holdings, they have been debarred from accessing the stock markets or selling their holdings in the news channel. The Roys were also found to be in violation of NDTV’s code of conduct, SEBI said in an order.

The order came after the SEBI carried out an investigation into allegations against the Roys and RRPR Holdings for not disclosing material information to the shareholders of NDTV about loan agreements entered into by them with Vishva Pradhan Commercial Private Ltd.

NDTV was incorporated in 1988 and is listed on the BSE and the NSE.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Reham Khan wins defamation case, pay-out, apology

Islamabad, Nov 14 (IANS) Pakistan Prime Minister Imran Khan's former wife Reham Khan has received substantial libel damages and...

Rule changes can make F1 more competitive: Carlos Sainz

Sao Paulo, Nov 14 (IANS) Spanish driver Carlos Sainz (McLaren) has said that while a podium finish is a remote possibility for him under...

Nirbhaya case: Complaint filed against sole eyewitness

By Sanjeev Kumar Singh ChauhanNew Delhi, Nov 14 (IANS) Father of one of the convicted murderer in the Nirbhaya gang rape and murder case...

Kuwait condemns Israeli deadly raids on Gaza

Kuwait City, Nov 14 (IANS) Kuwait expressed utter rejection and condemnation of Israel's raid on the Palestinian Gaza Strip, the Foreign Ministry said.Israel's ongoing...

Iran condemns killing of Palestinian Islamic Jihad leader

Tehran, Nov 14 (IANS) Iran's Foreign Ministry strongly condemned Israel's attack on the Gaza Strip and the assassination of the leader of Palestinian Islamic...
- Advertisement -

More Articles Like This