In the face of a takeover bid from the Adani group’s media subsidiary, NDTV promoters Prannoy Roy and Radhika Roy indicated on Thursday that an immediate transfer of their shares held through promoter holding firm RRPRH is not possible as they are currently barred by stock market watchdog SEBI from dealing in shares directly or indirectly.
SEBI had restrained the promoters from accessing the securities market for a two-year period that expires on November 26, 2022, unless pending appeal proceedings were to successfully conclude prior to that date, the company stated in its latest regulatory filing.
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