Sebi restraints not applicable on NDTV promoter company: Adani

Mumbai: Adani Enterprises NSE 2.39 % said it does not require the approval of the securities market regulator to be allotted shares in the promoter entity of New Delhi Television NSE 4.93 %, RRPR Holding, challenging the news network company’s contention, even as a section of legal experts said NDTV NSE 4.93 % founders Radhika and Prannoy Roy may have a slim chance of retaining management control.

“RRPR is not a party to the Sebi (Securities and Exchange Board of India) order dated 27th November 2020,” Adani Enterprises said in a regulatory filing on Friday, a day after NDTV said in a stock exchange disclosure that Radhika and Prannoy Roy were barred by a Sebi order from dealing in securities for two years till November 26, 2022.