© business-standard.comSebi bars Prannoy and Radhika Roy from securities market, managerial posts
The Securities and Exchange Board of India (Sebi) on Friday debarred New Delhi Television (NDTV) promoters Prannoy Roy and Radhika Roy and their holding firm RRPR Holdings from trading in the securities markets for two years, and the Roys from holding any key managerial position in NDTV for the same period.
In its 51-page order, the markets regulator said all the three key promoters did insider trading by concealing price-sensitive information about three loan agreements, did not make the necessary disclosures to the stock exchanges, and kept the minority shareholders in the dark.
“Any fraudulent act directly designed to defraud such investors cannot be treated as good for the securities market and for the interest of investors. Such acts, if not dealt with adequately and sternly, will send a wrong signal to the violators having same or similar propensity and will not be good for the securities market,” Sebi Whole-time Member S K Mohanty said in the order.