NDTV's Prannoy Roy and His Wife Radhika Get SEBI Notice for Insider Trading
Market regulator Securities and Exchange Board of India (SEBI) has issued a show-cause notice to Dr Prannoy Roy and his wife Radhika, both promoters of New Delhi Television Ltd (NDTV) for alleged insider trading. 
 
In a regulatory filing, NDTV says, "This to inform you that Dr Prannoy Roy and Ms Radhika Roy, the promoters of NDTV, have informed the Company that on 10 September 2018, they have received a show cause notice (SCN) dated 31 August 2018, issued under Sections 11(1), 11(4) and 113 of the Securities and Exchange Board of India Act, 1992 (SEBI Act) by SEBI, alleging violation, inter—alia, of provisions of Section 12A (d) and (e) of SEBI Act read with Regulation 3(i) and Regulation 4 of SEBI (Prohibition of Insider Trading) Regulations, 1992." 
 
"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 SCN, there will not be any financial implications of the SCN on the Company," NDTV added.
 
NDTV closed Tuesday 3% down at Rs34.30 on the BSE (Bombay Stock Exchange), while the 30-share Sensex ended the day 1.34% down at...
Like this story? Get our top stories by email.

User

COMMENTS

Sreepathid

2 weeks ago

Drama going on for a long time. the soap opera is going to continue.

SEBI Backtracks on FPI Rules, To Allow NRIs and PIOs To Hold Non-controlling Stake
After facing a backlash from foreign funds' lobby group, market regulator Securities and Exchange Board (SEBI) has radically changed its course on banning non-resident Indians (NRIs) and persons of Indian origin (PIOs) from owning foreign portfolio investment (FPI) vehicle or structure. SEBI may allow NRIs and PIOs to hold 25% as a single beneficiary and up to 50% as a group in an FPI. 
 
In April this year, SEBI had banned NRIs and PIOs from being beneficial owners (BOs) of an FPI, giving them six months to make the changes.
 
The HR Khan Committee suggestions were made in response to the strong objections raised by the Asset Management Roundtable of Indian (AMRI) to the SEBI circular issued on 10 April 2018 which effectively placed a blanket ban on investments through certain FPIs. 
 
On Saturday, the Khan Committee recommended some changes in the norms in know-your-customer (KYC) guidelines for NRI and PIOs. The Committee was set up by SEBI to review the FPI rules. The Committee met last week against the backdrop of a sharp fall in market indices. The market was supposedly rattled by the new rules that would be applicable to the FPIs from December,...
Like this story? Get our top stories by email.

User

HR Khan Committee Meets To Discuss FPIs’ Contention of a Possible US$ 75 Billion Outflow
While a Times of India report mentioned on Wednesday that the Securities and Exchange Board (SEBI) has taken ‘a strong exception’ to the contention as much as $75 billion will flow out of India due to changes regulations governing foreign portfolio investors (FPI), the HR Khan Committee set up by SEBI to review the FPI rules, met against the backdrop of a sharp fall in market indices of the last few days. The market was supposedly rattled by the new rules that would be applicable to the FPIs from December, forcing them to liquidate their investments in India.
 
A group of non-resident Indians (NRIs) and offshore investment vehicles of financial services firms based in India had addressed the media a few days ago warning that as much as $75 billion worth of investments may be withdrawn from India by December 2018 if SEBI did not modify a circular that put restrictions on NRIs and people of Indian origin (PIOs) from investing via the FPI route. 
 
The circular issued on 10 April 2018 had said that NRIs, PIOs and overseas vehicles set up by Indian financial services groups cannot be ‘beneficial owners’ of FPIs. Under the Prevention of Money Laundering Act (PMLA)...
Like this story? Get our top stories by email.

User

COMMENTS

Saravanan R

2 weeks ago

Yes. Why these FPIs wait till the circular takes effect ? They were deliberately waiting for the issue to gain force as a tempest. So that Govt or SEBI can be tempered or cowed down to withdraw the circular. Congress Govt had always handled issues like this way to arm-twist the investors and then "accede" to their request ('threat'). Now industry and investors try the same trick.

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

online financial advisory
Pathbreakers
Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
online financia advisory
The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Online Magazine
Fiercely independent and pro-consumer information on personal finance
financial magazines online
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
financial magazines in india
MAS: Complete Online Financial Advisory
(Includes Moneylife Online Magazine)