Markets regulator Sebi on Friday barred NDTV promoters Prannoy Roy and Radhika Roy from accessing the securities markets for two years.
Moreover, Prannoy and Radhika also cannot hold management positions in NDTV during this period.
The Securities and Exchange Board of India’s order came in a 2017 case, where an NDTV shareholder alleged that RRPR Holdings (promoter of NDTV), Prannoy Roy and Radhika Roy didn’t disclose information about loan agreements entered into by them with Vishvapradhan Commercial.
During this period the Roys cannot buy or sell securities and directly or indirectly cannot remain associated with the securities market.
The existing holding, including units of mutual funds of the promoters will also remain frozen.
More to come…
Source: Economic Times