NDTV promoters Pranay Roy and Radhika Roy banned by SEBI

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New Delhi, Saturday 28 November 2020

The Securities and Exchange Board of India (SEBI) has banned NDTV promoters Pranay Roy and Radhika Roy from trading in the securities market for two years. This action has been taken due to being involved in insider trading. SEBI has also asked the duo to repay Rs 16.97 crore earned illegally from insider trading activities 12 years ago.

The regulator has also banned seven other individuals and entities for a period of one to two years. Some of these have been asked to return illicit earnings made by insider trading from unpublished price sensitive information. SEBI has taken this step after examining the trading of the company's shares between September 2006 and June 2008. SEBI found that a number of provisions relating to insider trading have been violated during this period.

SEBI said the individuals and entities concerned could pay the amount alone or together. They will have to pay this amount with interest of six per cent from April 17, 2008 till the date of payment. SEBI said in three separate orders issued on Friday that all these units had violated the prohibition rules of insider trading.

SEBI's probe found that Pranab Roy and Radhika Roy had illegally earned more than Rs 16.97 crore by trading insider trading at New Delhi Television Limited (NDTV) illegally. Time was the director. Radhika Roy was the managing director of the company during this period.

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