Television

SAT further stays SEBI's impugned order against NDTV till next hearing

The tribunal has adjourned the case to 21 April 2020

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MUMBAI: The Securities Appellate Tribunal has further extended the relief to New Delhi Television news channel’s promoters Prannoy Roy and Radhika Roy, against the impugned order of the Securities and Exchange Board of India till next hearing.

According to a BSE filing of the NDTV, “The Securities Appellate Tribunal at Mumbai, at a hearing on February 24, 2020, has extended the stay; in operation against the Impugned Order granted vide order dated June 18, 2019, until the next date of hearing.”

The appeals have accordingly been adjourned, and are now scheduled to be listed on 21 April 2020.

SEBI on 14 June 2019 had 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 activities.

SEBI had also debarred both the promoters of the company along with their RRPR Holdings, from accessing the stock markets or selling their holdings in the news channel. The Roys were found to be in violation of NDTV's code of conduct, SEBI had said in its order.

SEBI had come out with an order after carrying out a detail probe into allegations against the promoters of the company and their holdings for not disclosing material information to the shareholders  about loan agreements entered into with Vishva Pradhan Commercial Private Ltd.

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