Thread by @barandbench

SEBI has barred NDTV Promoters - Prannoy Roy and Radhika Roy - from accessing the securities market for 2 years for insider trading activities

@SEBI_India
@PrannoyRoyNDTV
@ndtv @ndtvindia

PrannoyRoy and Radhika Roy shall, jointly or severally, disgorge the amount of wrongful gain of ₹17 crore (approx) as computed in the show cause notice, along with interest at the rate of 6% per annum from April 17, 2008

@SEBI_India
@PrannoyRoyNDTV
@ndtv @ndtvindia

SEBI Order states "if persons like Prannoy Roy Radhika Roy, who are obligated to observe fiduciary duties while exercising powers fail to do so and instead use their position to their own advantage, it constitutes a fraud on common shareholders ...."

@SEBI_India
@PrannoyRoyNDTV

"It is of paramount importance that trading by insiders is monitored and regulated, especially when they are in possession of UPSI. Wherever such trading results in accrual of unlawful gain, such insiders are required to forgo such gain" orders SEBI
@SEBI_India @ndtv

SEBI bars NDTV promoters Prannoy Roy and Radhika Roy from dealing in securities market for indulging in insider trading [Read Order]

@SEBI_India @PrannoyRoyNDTV @ndtv
Read More: bit.ly/2VdFzCQ