SAT quashes SEBI’s order against Prannoy Roy, Radhika Roy
1 year, 3 months ago

SAT quashes SEBI’s order against Prannoy Roy, Radhika Roy

Live Mint  

Securities Appellate Tribunal quashes SEBI's insider trading order against former NDTV promoters Prannoy Roy & Radhika Roy. The matter pertains to Sebi findings that Prannoy Roy and Radhika Roy indulged in insider trading in the scrip of NDTV between 1 September 2006 and 30 June 2008. By dealing in shares of NDTV while in possession of unpublished price-sensitive information, the Roys violated the provisions of insider trading, said the market regulator in its order on 26 November 2022. Meanwhile, in March this year, Adani Enterprises, through its indirect subsidiary RRPR Holdings, acquired additional 1.76 crore shares of NDTV for around ₹602 crore from the Roys, amounting to 27.26 percent in the company.

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History of this topic

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case
1 month, 4 weeks ago

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case

Live Mint  

The Supreme Court on Monday dismissed a plea by the Securities and Exchange Board of India to impose a ₹25 crore penalty on Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, over alleged share manipulation involving Reliance Petroleum Ltd in November 2007. A two-judge bench of Justices J.B. Pardiwala and R. Mahadevan agreed to hear Sebi's broader case …

CBI closes 2017 probe against NDTV founders Prannoy Roy and Radhika Roy
3 months, 1 week ago

CBI closes 2017 probe against NDTV founders Prannoy Roy and Radhika Roy

Hindustan Times  

Seven years after it launched an investigation and raids against NDTV founders, Prannoy Roy and his wife Radhika Roy, for allegedly causing a loss of ₹48 crore to the ICICI Bank, the Central Bureau of Investigation on Tuesday closed the case citing lack of sufficient material to go ahead with the probe, people familiar with the development said on Tuesday. …

SAT Sets Aside SEBI Order Which Held Prannoy Roy & Radhika Roy Liable For Insider Trading In NDTV
1 year, 3 months ago

SAT Sets Aside SEBI Order Which Held Prannoy Roy & Radhika Roy Liable For Insider Trading In NDTV

Live Law  

The Securities Appellate Tribunal on Thursday set aside the order passed by the Securities and Exchange Board of India in November 2020 which held Prannoy Roy and his wife Radhika Roy, the former promoters of NDTV, liable for insider trading.The SEBI order had barred the Roys from buying, selling and dealing in securities directly and indirectly for a period of …

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks
2 years, 2 months ago

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks

Live Law  

The Supreme Court on Monday adjourned the hearing of the Securities and Exchange Board of India's challenge against the Securities Appellate Tribunal's order that reduced penalties imposed on NDTV promoters Prannoy Roy, Radhika Roy for allegedly concealing price sensitive information from shareholders. On July 20, the SAT at Mumbai had set aside the findings of the SEBI which held the …

Adani Group says regulatory nod not needed for NDTV share acquisition
2 years, 4 months ago

Adani Group says regulatory nod not needed for NDTV share acquisition

Hindustan Times  

Adani Enterprises said on Friday that regulatory restrictions are not applicable to New Delhi Television Ltd's top shareholder RRPR Holding Private Limited owned by founder Radhika and Prannoy Roy and they cannot 'legally' prevent share allotment to Adani Group. New Delhi Television Ltd's founders Prannoy Roy and Radhika Roy tried to block Adani's attempt to acquire majority stake in the …

NDTV promoters say Sebi nod required for Adani to acquire shares
2 years, 4 months ago

NDTV promoters say Sebi nod required for Adani to acquire shares

Live Mint  

NDTV on Thursday argued that its promoters cannot yet transfer shares in the television channel’s parent entity to Adani Group firms, citing a November 2020 ruling by the markets regulator which barred them from accessing capital markets for two years in a case of insider trading. Adani Group firms would need to secure the Securities and Exchange Board of India's …

Adani stake in NDTV | Promoters cite SEBI ban on dealing in shares
2 years, 4 months ago

Adani stake in NDTV | Promoters cite SEBI ban on dealing in shares

The Hindu  

In the face of a takeover bid from the Adani group’s media subsidiary, NDTV promoters Prannoy Roy and Radhika Roy indicated on Thursday that an immediate transfer of their shares held through promoter holding firm RRPRH is not possible as they are currently barred by stock market watchdog SEBI from dealing in shares directly or indirectly. The NDTV promoters’ statement, …

SAT Sets Aside SEBI Findings Of Fraud Against NDTV Promoters; Reduces Penalties Imposed For Non-Disclosure Of Loan Agreement
2 years, 5 months ago

SAT Sets Aside SEBI Findings Of Fraud Against NDTV Promoters; Reduces Penalties Imposed For Non-Disclosure Of Loan Agreement

Live Law  

The Securities Appellate Tribunal at Mumbai has set aside the findings of the Securities and Exchange Board of India which held NDTV promoters Prannoy Roy and Radhika Roy liable for committing fraud on its investors by non-disclosure of a loan agreement with Vishvapradhan Commercial Pvt Ltd. The SAT also reversed the SEBI finding that the the promoters had ceded control …

Supreme Court Exempts NDTV Promoters Prannoy Roy & Radhika Roy From Making Deposit Before SAT For Hearing Appeals Against SEBI Penalty
3 years, 10 months ago

Supreme Court Exempts NDTV Promoters Prannoy Roy & Radhika Roy From Making Deposit Before SAT For Hearing Appeals Against SEBI Penalty

Live Law  

The SEBI also banned Roys from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of 2 years. Nevertheless, the two promoters being in possession of the UPSI sold company shares on April 17, 2008, when the trading window for them was closed and made …

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal
3 years, 11 months ago

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal

Live Law  

A bench of the Securities Appellate Tribunal, Mumbai comprising of Justice Tarun Agarwala, Dr. CKG Nair and Justice MT Joshi in two similar orders directed the two NDTV promoters, Prannoy Roy and Radhika Roy to deposit 50% of the disgorged amount before the Securities Exchange Board of India within four weeks. The SAT was hearing two appeals preferred by the …

Bombay HC Dismisses Challenge By NDTV Promoters Prannoy Roy & Radhika Roy Against SEBI Notices
5 years ago

Bombay HC Dismisses Challenge By NDTV Promoters Prannoy Roy & Radhika Roy Against SEBI Notices

Live Law  

The Bombay High Court on Monday dismissed a writ petition filed by Prannoy Roy and Radhika Roy, promoters of New Delhi Television challenging a show-cause notice issued by Securities and Exchange Board of India for alleged violation of Sections 12 a and 12 a of Securities and Exchange Board of India Act read with Prohibition of Insider Trading Regulations, 1992. …

NDTV promoters Prannoy, Radhika Roy move HC challenging SEBI show-cause notice for insider trading
5 years ago

NDTV promoters Prannoy, Radhika Roy move HC challenging SEBI show-cause notice for insider trading

Op India  

The promoters of controversial left-wing media NDTV – Prannoy Roy and Radhika Roy have moved the Bombay High Court, challenging a show-cause notice issued to them by the Securities and Exchange Board of India in 2018 for alleged violation of insider trading regulations. Read: SAT upholds SEBI penalty of ₹2.10 crore on NDTV, ₹3 lakhs each on 3 directors for …

CBI Books NDTV’s Roys, Former CEO for Alleged FDI Norms Violation
5 years, 4 months ago

CBI Books NDTV’s Roys, Former CEO for Alleged FDI Norms Violation

The Quint  

NDTV later released a statement saying that the company’s founders have cooperated in all matters filed against them. Prannoy and Radhika Roy, the founders of NDTV, as also the company, have cooperated in all matters filed against them. As part of the continued persecution of free press, a new CBI case has been filed about a $150 million investment in …

NDTV to file appeal against Sebi order imposing Rs 12 lakh fine for disclosure lapses
5 years, 6 months ago

NDTV to file appeal against Sebi order imposing Rs 12 lakh fine for disclosure lapses

India TV News  

News broadcaster New Delhi Television Ltd on Wednesday said it will file an appeal against Sebi's decision to impose a penalty of Rs 12 lakh on the company for failing to make timely disclosures to the stock exchanges. The capital markets regulator noted that Indiabulls Financial Services in January 2008 acquired 40 lakh shares of NDTV, amounting to 6.40 per …

SAT stays SEBI's order barring NDTV promoters from key posts
5 years, 6 months ago

SAT stays SEBI's order barring NDTV promoters from key posts

India TV News  

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. If such an application is made, the SEBI will provide a certified copy of the impugned order within five working days," the tribunal added. …

SAT stays Sebi ban on NDTV promoters Prannoy and Radhika Roy; next hearing on 16 September
5 years, 6 months ago

SAT stays Sebi ban on NDTV promoters Prannoy and Radhika Roy; next hearing on 16 September

Firstpost  

Sebi had said the Roys had kept minority shareholders in the dark about loan agreements that they had entered. Mumbai: NDTV promoters Radhika and Prannoy Roy Tuesday secured an interim stay from the Securities Appellate Tribunal against the Sebi order that banned them and the holding company of the news channel from the securities market for two years. Coming down …

Sebi imposes Rs 12 lakh fine on NDTV for disclosure lapses
5 years, 6 months ago

Sebi imposes Rs 12 lakh fine on NDTV for disclosure lapses

India TV News  

Markets regulator Sebi has imposed a penalty of Rs 12 lakh on New Delhi Television Ltd for failing to make timely disclosures to the stock exchanges. Sebi noted that Indiabulls Financial Services in January 2008 acquired 40 lakh shares of NDTV, amounting to 6.40 per cent of the total share capital of the firm. Further, the promoters of NDTV acquired …

NDTV says SEBI order asking Prannoy and Radhika Roy to step down as directors 'bad in law'; duo to challenge market regulator in court
5 years, 6 months ago

NDTV says SEBI order asking Prannoy and Radhika Roy to step down as directors 'bad in law'; duo to challenge market regulator in court

Firstpost  

The Roy couple has also been barred from holding a board or key managerial position at any other listed company for one year, SEBI said while coming down heavily on them and RRPR Holdings Pvt Ltd for what it termed as violation of various regulations by keeping minority shareholders in the dark about three loan agreements. One such loan agreement …

Sebi bars NDTV promoters Prannoy Roy, Radhika Roy from capital markets for 2 years
5 years, 6 months ago

Sebi bars NDTV promoters Prannoy Roy, Radhika Roy from capital markets for 2 years

India TV News  

Regulator Sebi on Friday barred NDTV Ltd's three key promoters -- Prannoy Roy, Radhika Roy and their holding firm -- from the capital markets for two years and also restrained the two individuals from holding any board or top management role at the company in this period. The Roy couple has also been barred from holding a board or key …

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