HC rejects plea by NDTV promoters Prannoy Roy & Radhika Roy to quash SEBI showcause notice

The Securities and Exchange Board of India issued the showcause notice for alleged violation of insider trading regulations

e4m by exchange4media Staff
Updated: Jan 6, 2020 8:30 PM
NDTV

The Bombay High Court has dismissed a plea by Prannoy Roy and Radhika Roy, promoters of NDTV, seeking to quash a Securities and Exchange Board of India (SEBI) showcause notice for alleged violation of insider trading regulations.

In May 2018, SEBI slapped a fine of Rs 10 lakh on NDTV and Rs 3 lakh each on four individuals including promoters Prannoy Roy and Radhika Roy.

SEBI imposed the fine for delayed disclosures under the Listing Agreement and the Insider Trading Regulations.

Bombay High Court dismissed plea by Prannoy Roy and Radhika Roy, promoters of NDTV seeking to quash Securities and Exchange Board of India (SEBI) show-cause notice for alleged decade old violation of insider trading regulations. @PrannoyRoyNDTV @SEBI_India @ndtv pic.twitter.com/0M6PXEE4Rw

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