NDTV promoters Prannoy, Radhika Roy get show-cause notice from SEBI

11 September 2018, 04:19 PM
NDTV promoters Prannoy, Radhika Roy get show-cause notice from SEBI (file photo)
NDTV promoters Prannoy, Radhika Roy get show-cause notice from SEBI (file photo)

SEBI, the capital markets regulator, has issued a show-cause notice to media organisation NDTV's promoters Prannoy Roy and Radhika Roy for allegedly violating insider trading regulations.

"Prannoy Roy and Radhika Roy, the promoters of New Delhi Television Ltd (NDTV)..., have informed the company that on September 10, 2018, they have received a show-cause notice dated August 31, 2018... by the Securities and Exchange Board of India (Sebi)," NDTV said in a regulatory filing.

Also read | PNB Scam: In first video interview, Mehul Choksi Says ED allegations against him ‘false’, ‘baseless’

According to the media outlet, the notice was issued alleging violation of provisions of Section 12A (d) and (e) of Sebi Act read with Regulation 3(i) and Regulation 4 of Sebi (Prohibition of lnsider Trading) Regulations, 1992.

The firm, however, clarified that since the company is not a party to the show cause notice, there will not be any financial implications of the notice on the company and its promoters were in the process of seeking legal advice to take appropriate action in the matter.

First Published: Tuesday, September 11, 2018 04:16 PM
For all the latest India News Download the News Nation App available on Android and iOS.