Penalties on Prannoy Roy, Radhika Roy for concealing price sensitive information from NDTV shareholders excessive: SAT

While stating that the non-disclosure was neither fraudulent nor found to be an unfair trade practice, the SAT reduced the cumulative penalties imposed on the Roys from ₹30 crore to ₹5 crore, 10 lakhs.
Radhika Roy, Prannoy Roy
Radhika Roy, Prannoy RoyTwitter

The Securities Appellate Tribunal (SAT) held on Wednesday that the penalties imposed by the Securities and Exchange Board of India (SEBI) on Prannoy Roy, Radhika Roy and others for non-disclosure of material information to NDTV shareholders were excessive and not commensurate with the alleged violations [Vishvapradhan Commercial Pvt Ltd v. SEBI].

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