The Securities and Exchange Board of India (SEBI), on Friday, barred NDTV promoters Prannoy and Radhika Roy from dealing in the securities market for alleged insider trading that occurred twelve years ago.
SEBI, passed the following orders:
(a) Mr. Prannoy Roy and Mrs. Radhika Roy shall, jointly or severally, disgorge the amount of wrongful gain of ₹16,97,38,335 as computed in the show cause notice, along with interest at the rate of 6% per annum from April 17, 2008, till the date of actual payment of disgorgement amount along with interest, within 45 days from the date of coming into force of this order;
(b) Mr. Prannoy Roy and Mrs. Radhika Roy shall be restrained from accessing the securities market and further prohibited them from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of 2 years
"It is clarified that during the period of restraining the existing holding of securities, including the units of mutual funds shall remain under freeze in respect of the aforesaid Notices."
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