In a further statement, they said: “They have been stopped on the basis of a fake and wholly unsubstantiated corruption case filed by the CBI about an ICICI loan that was taken by their company, RRPR, which was fully repaid with interest ahead of schedule. The case has been challenged by the NDTV founders and their company in the Delhi High Court where the matter has been pending for two years.”
On Friday, in a series of tweets media organisation NDTV claimed that NDTV founders Radhika and Prannoy Roy were ‘prevented from leaving the country’.
NDTV wrote on Twitter: “Both journalists had tickets to return to India on the 16th, just a week later. They have been stopped from traveling abroad on the basis of a fake and wholly unsubstantiated corruption case initiated by the CBI that was filed two years ago and in which Radhika and Prannoy Roy have been fully cooperating. Today’s action is, along with events like raids on media owners, a warning to the media to fall in line- or else.”
Both journalists had tickets to return to India on the 16th, just a week later. They have been stopped from traveling abroad on the basis of a fake and wholly unsubstantiated corruption case initiated by the CBI that was filed two years ago...(2/3)
— NDTV (@ndtv) August 9, 2019
...and in which Radhika and Prannoy Roy have been fully cooperating. Today’s action is, along with events like raids on media owners, a warning to the media to fall in line- or else.” (3/3)
— NDTV (@ndtv) August 9, 2019
In a further statement, they said: “They have been stopped on the basis of a fake and wholly unsubstantiated corruption case filed by the CBI about an ICICI loan that was taken by their company, RRPR, which was fully repaid with interest ahead of schedule. The case has been challenged by the NDTV founders and their company in the Delhi High Court where the matter has been pending for two years.”
The statement added: “Radhika and Prannoy Roy have been fully cooperating with the case and they have been travelling abroad regularly and returning to the country so to suggest they are a flight risk is ludicrous. The authorities did not inform the court, where the matter is sub judice, or the Roys, about today's action. It is, along with events like raids on media owners, a warning to the media to fall in line - or else.”
1. NDTV records profit
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The NDTV Group had declared its best quarter in six years, recording a profit of Rs 15.2 crore during April to June 2019-20.
The company's television business earned a profit of Rs 9 crore in Q1 FY20, the company said in regulatory filings at stock exchanges.
At the group or consolidated level, this is a turnaround of Rs 25.3 crore. For the television business, the improvement is of Rs. 8.4 crore over the same time last year.
At the group level, NDTV is profitable by Rs 19.91 crore before tax and exceptional items.
"For the first time in its history, NDTV's television business (NDTV Limited) is recording five consecutive profitable quarters. The company continues to maximise resource efficiency with operating costs reduced by 9 per cent over the first quarter of last year," it said.
NDTV Convergence, the digital branch of the company, recorded its highest-ever revenue in this quarter. The earnings before interest, tax, depreciation and amortisation (EBITDA) of 30 per cent is an improvement over the last years.
On the day that the results of the general election were announced, NDTV Convergence had 16.5 billion hits, unprecedented for any Indian news site, the company said.
2. NDTV to appeal SEBI charge
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News broadcaster New Delhi Television Ltd (NDTV) earlier said it will file an appeal against Sebi's decision to impose a penalty of Rs 12 lakh on the company for failing to make timely disclosures to the stock exchanges.
NDTV, however, said it is yet to receive the penalty order from the Securities and Exchange Board of India (Sebi).
"The company will be filing an appeal against the said order if and when the same is received by the company, and as per advice received by the company, this order is likely to be set aside in appeal," NDTV said in a regulatory filing.
The Sebi order came after the regulator examined multiple disclosure lapses by NDTV and noted non-compliance with the substantial acquisition of shares and takeover (SAST) regulations.
The capital markets regulator noted that Indiabulls Financial Services in January 2008 acquired 40 lakh shares of NDTV, amounting to 6.40 per cent of the total share capital of the firm.
3. 12 lakh penalty on NDTV
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Further, the promoters of NDTV acquired 20.28 per cent of the total share capital of NDTV pursuant to an open offer in July 2008, Sebi said in an order dated Jun 17.
Post the transaction, the entities were to make requisite disclosures to NDTV under relevant provisions of SAST norms, while NDTV in turn was supposed to report the same to BSE as well as NSE, it added.
However, as per the order, the media company made inordinate delay in making disclosures related to the change in shareholdings of its promoters and Indiabulls Financial Services.
Consequently, a penalty of Rs 12 lakh has been imposed on NDTV which shall be payable "jointly and severally" by the media company, it said.
