Mukul Rohatgi, Senior Advocate for Prannoy Roy and Radhika Roy started making submission that penalty proceedings were initiated, to which Solicitor General Tushar Mehta submitted that penalty proceedings are different.
The Supreme Court on Monday deferred to February 5, the hearing of a petition filed by NDTV promoters, Prannoy Roy and Radhika Roy against the order of Securities Appellate Tribunal (SAT) to deposit 50 percent of the disgorged amount before markets regulator SEBI within four weeks.
The penalty was imposed in a case where SEBI received a complaint dated August 26, 2017 from Quantum Securities Pvt Ltd relating to the 3 loan agreements signed between Prannoy Roy, Radhika Roy and RRPR Holding Pvt.