SC asks SEBI to respond to pleas of NDTV promoters against levy of penalty

The Roys have sought that the SEBI order imposing the penalty be kept in abeyance till Securities Appellate Tribunal decides their appeals.

The Supreme Court Friday asked markets regulator SEBI to file its response to pleas of NDTV promoters Prannoy Roy and Radhika Roy that the penalty proceedings against them, related to alleged violation of securities norms by concealing information from shareholders on some loan agreements, be kept in abeyance. The Roys have sought that the SEBI order imposing the penalty be kept in abeyance till Securities Appellate Tribunal (SAT) decides their appeals. A bench headed by Chief Justice N. V. Ramana took note of the statement of Solicitor General Tushar Mehta, appearing for SEBI, that the market regulator will not take against the promoters in the meantime and said that a response to their pleas may be filed in two weeks.