NDTV-SEBI matter in SC: Roys say news channel struggling, won’t transfer shares

The promoters of NDTV Prannoy Roy and Radhika Roy on Thursday informed the Supreme Court that the news channel is facing financial hardship with limited resources.

A bench headed by Chief Justice S.A. Bobde and comprising Justices A.S. Bopanna and V. Ramasubramanian asked the Roys to inform about the shares they hold in the company and their value by Friday.

The submissions were made during the hearing of an appeal challenging the Securities Appellate Tribunal (SAT) order directing Roys to deposit 50 per cent of the alleged unlawful gains, which market regulator SEBI said they made.

Senior advocate Mukul Rohatgi, representing the Roys, emphasized before the bench they were willing to provide a statement of shares which will not be transferred by them to any other person.