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The Sebi regulator on Friday excluded the three main promoters of NDTV Ltd – Prannoy Roy (pictured), Radhika Roy and their holding company – financial markets for two years.
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The Securities and Exchange Board of India has also banned its founders, Prannoy and Radhika Roy, from holding executive positions over the next two years.
The Indian markets regulator on Friday banned the founders of the New Delhi Television Ltd. (NDTV) news channel from accessing the country's financial markets for the next two years.
The Securities and Exchange Board of India, which is investigating fraud claims over a multimillion-dollar loan secured by NDTV, has also banned its founders, Prannoy and Radhika Roy, from holding any management positions for both. coming years.
"The loan agreements were clearly structured as a scheme to defraud investors," SEBI said in its order.
The federal authorities first opened an investigation into the founders of NDTV in 2017 and then filed a lawsuit against the couple – considered one of the pioneers of private news channels in India – which the company had described as an attempt to muzzle the freedom of expression.
The Securities and Exchange Board of India (SEBI) has banned Prannoy Roy and his wife Radhika Roy from performing any management function in #NDTV for a period of two years.https: //t.co/r3parFgfAC
– The Hindu (@the_hindu) June 14, 2019
In the same year, the Central Investigation Bureau (CBI) was raided by the couple's home in New Delhi as well as by two holiday homes, provoking protests from Indian journalists who described the bombing raid as freedom of the press.
Do not make this a case of @Narendra Modi trampling on the freedom of the press @ndtv Let all the editors who have argued this in the past look at @SEBI_India order and challenge it in court. Otherwise, journalists will not think that laws apply to us #PrannoyRoy https://t.co/qZrK5v7pet
– Sunil Jain (@thesuniljain) June 15, 2019
NDTV had called the witch-hunting raids. NDTV officials were not available to comment on the latest developments.
The CBI had stated that the survey had no connection with the editorial part of NDTV, the oldest English language news channel in India.
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