The Securities Appellate Tribunal (SAT) has directed NDTV's promoters Prannoy Roy and Radhika Roy to deposit 50 per centof the disgorged amount before markets regulator Sebi
NDTV promoters will appeal against Sebi fine, manufacturing sector returned to the recovery mode with a softer contraction, according to RBI
The regulator in its order said the loan agreements had clauses that have an adversarial effect on NDTV shareholders
The promoters' lawyers will appeal against the order and its baseless findings at the Securities Appellate Tribunal, NDTV said in a statement
NDTV said the order is based on an inaccurate assessment of facts.
The move relates to a probe conducted by the markets regulator Sebi between September 2006 and June 2008 where violations of insider trading regulations were found
It is alleged that the company floated 32 subsidiaries in several tax haven countries to bring foreign funds to India through sham transactions
The Roy couple has also been been barred from holding a board or key managerial position at any other listed company
CBI registered a case for causing an alleged loss to ICICI Bank to the tune of Rs 48 crore