NDTV co-founders Radhika and Prannoy Roy have moved the Supreme Court for civil appeals against an order issued in July by the Securities Appellate Tribunal, or SAT.
NDTV had earlier called the order “a big verdict in favour of NDTV and its founders”. It had set aside the findings of the Securities and Exchange Board of India, or SEBI, which claimed that the Roys had committed fraud on investors by not disclosing a loan agreement. It also reserved the SEBI finding that the founders had ceded control to Vishvapradhan Commercial Private Limited, or VCPL, through the agreement.
