From Our Bureau
NEW DELHI: Prannoy Roy and his wife Radhika Roy, promoters of the New Delhi television Limited (NDTV) have approached the Supreme Court, along with their investment firm RRPR Holdings Private Limited, against a Rs 5 crore penalty imposed on them by the Securities Appellate Tribunal (SAT) for non-disclosure of the loan agreements entered by them.
In a regulatory filing by NDTV, the had informed the Securities and Exchange Board of India (SEBI) of moving a civil appeal in the Supreme Court gainst SAT’s order on July 20.
In fact, SAT had reduced the penalty from Rs 25 crore imposed by SEBI to Rs 5 crore.
Roys, who claim a combined wealth of Rs 2,000 crore, are in trouble since a hostile takeover bid by tycoon Gautam Adani’s Adani Group that has acquired stakes in NDTV and announced an open offer to buy 26% stakes.
