SAT quashes Sebi’s order against NDTV’s Prannoy Roy, Radhika
New Delhi, October 5
The Securities Appellate Tribunal (SAT) on Thursday quashed a Sebi order that barred NDTV founders Prannoy Roy and Radhika Roy from the securities market for two years in an insider trading case.
However, the appellate tribunal partly set aside an order against Vikramaditya Chandra, the group’s chief executive officer, during the relevant period, and remitted the matter back to Sebi to decide the issue.
It further said trades executed by Chandra during PSI-3 (price-sensitive information) are required to be reconsidered, according to the order passed by SAT.
While dismissing the Sebi’s order, SAT noted that information about the reorganisation of the company was not price sensitive information, and Prannoy Roy and Radhika Roy are not insiders.
