Media firm NDTV’s promoters Prannoy Roy and Radhika Roy have received a show cause notice from the capital markets regulator Sebi for alleged violation for insider trading regulations.
“Prannoy Roy and Radhika Roy, the promoters of New Delhi Television Ltd (NDTV)…, have informed the company that on September 10, 2018, they have received a show cause notice dated August 31, 2018… by the Securities and Exchange Board of India (Sebi),” NDTV said in a regulatory filing.
NDTV said the notice has been issued alleging violation of provisions of Section 12A (d) and (e) of Sebi Act read with Regulation 3(i) and Regulation 4 of Sebi (Prohibition of lnsider Trading) Regulations, 1992.
It further said, “The promoters of NDTV are in the process of seeking legal advice to take appropriate action in the said matter. Since the company is not a party to the show cause notice, there will not be any financial implications of the show cause notice on the company”. Shares of NDTV were trading 0.14 per cent higher at Rs 35.25 apiece on BSE.