Prannoy and wife Radhika caught for insider trading by SEBI
The Stock Exchange Board of India (SEBI) has banned NDTV owners Prannoy Roy, wife Radhika Roy, and former Managing Editor Vikram Chandra for two years from trading in stock exchanges for insider trading and rigging of NDTV’s shares in stock exchanges. Prannoy Roy and his wife are fined more than Rs.16.97 crores at the rate of six percent from 2008. PGurus has published a series of articles on the stock exchange manipulations by NDTV owner Prannoy Roy since 2006. Vikram Chandra, who is a co-accused in all Mr. & Mrs. Roy’s frauds, is fined Rs.6.7 lakhs for insider trading. He is also barred from trading in the stock exchange for one year.
The 99-page SEBI Order details the stock exchange frauds committed by Prannoy Roy who preaches ethics in TV channels. “The gains made by the Noticees (Prannoy Roy & Radhika Roy) have been calculated as the difference between actual sell price (i.e., ₹435.1) received and actual buy price (i.e., ₹400) of 4835850 shares of NDTV incurred by the Noticees. For the reasons enumerated above and in order to protect the interest of investors and the integrity of the securities market, I, in the exercise of the powers conferred upon me under Section 19 of the SEBI Act, 1992, read with section 11, 11(4) and 11B of the SEBI Act, 1992, hereby issue the following directions:
(a) The Noticees herein, namely, Mr. Prannoy Roy and Mrs. Radhika Roy shall, jointly or severally, disgorge the amount of wrongful gain of ₹16,97,38,335/– as computed in the show cause notice, along with interest at the rate of 6% per annum from April 17, 2008, till the date of actual payment of disgorgement amount along with interest, within 45 days from the date of coming into force of this order.
(b) The Noticees herein, i.e., Mr. Prannoy Roy and Mrs. Radhika Roy shall be restrained from accessing the securities market and further prohibited them from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of 2 years.
SEBI has also fined other NDTV’s top officers and management consultants like Ishwari Prasad Bajpayee, Saurav Banerjee, Sanjay Dutt, and wife Prenita Dutt during the period 2006-2008 for insider trading.
As per the 99-page order of SEBI, Prannoy Roy and his wife made a profit of Rs.16.97 crores by selling NDTV shares through illegal insider trading methods.
At present Prannoy Roy and his wife are facing two CBI FIRs for ICICI Bank Fraud. The FIR was registered in June 2017 and the charge sheet has not filed by CBI, though the agency found that Roy had stolen more than Rs.40 crores from the bank loan to build a big home in South Africa. CBI in August 2019 filed another FIR against Mr. & Mrs. Roy along with Vikram Chandra for floating more than 32 shell companies across the Globe to swindle more than Rs.1000 crores. PGurus published a detailed article on the stats of cases against Prannoy Roy.
 Income Tax fines Prannoy Roy & wife for Rs. 30 crores each for hushing up income in 2010-2011 – Nov 21, 2017, PGurus.com
 Income Tax exposes the lies of Prannoy Roy in Money Laundering, Stock Exchange manipulations – Part 2 – Nov 21, 2017, PGurus.com
 What is wrong with Sleeping SEBI? When is SEBI going to wake up from its slumber? – Dec 14, 2018, YouTube
 Why is the CBI not filing charge sheets against NDTV’s Prannoy Roy for more than three years? – Oct 5, 2020, PGurus.com