The Securities Appellate Tribunal (SAT) at Mumbai at a hearing on January 13, 2021, has extended the stay in operation against the Securities and Exchange Board of India (SEBI) order barring
New Delhi Television Limited (NDTV) promoters Radhika and Prannoy Roy from holding key posts.
This means NDTV founder-promoter duo could continue in their current positions at the organisation until next hearing. The next date of hearing has been set for February 24, 2021.
SEBI issued an order on June 14, 2019 barring Radhika and Prannoy Roy from holding any key managerial positions in the channel's management on the board for being "involved in fraudulent acts".
Additionally, along with promoter group RRPR Holdings, they were barred from accessing the stock markets or selling their holdings in the news channel for two years. The Roys were also founded to be in violation of NDTV's code of conduct according to SEBI order.
New Delhi Television Ltd was trading flat at Rs39.20 per piece at around 10.05 am on the BSE.