NDTV Case: SEBI Bars Prannoy, Radhika Roy From Securities Market For Two Years

Bloomberg Quint | Jun 14, 2019 at 3:25 PM
  • The Securities and Exchange Board of India on Friday barred New Delhi Television Ltd.’s three key promoters—Prannoy Roy, Radhika Roy and their holding firm RRPR Holdings Pvt. Ltd. —from the securities markets for two years.
  • A second loan agreement for Rs 53.85 crore was also signed with VCPL a year later that provided for NDTV promoters Prannoy and Radhika, allowing the lender to indirectly acquire 30 percent stake in NDTV through conversion of their warrants into equity shares of RRPR Holdings.
  • In a media statement published on NDTV, Radhika and Prannoy Roy termed the SEBI’s order as “outrageous”.