SC stays recovery of Penalty imposed by SEBI on NDTV Promoters

Radhika Roy Vs SEBI (Supreme Court)

FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER

1 We have heard Mr Mukul Rohatgi, senior counsel for the appellants and Mr Tushar Mehta, Solicitor General of India for the respondent.

2 By its order dated 15 February 2021, the Securities’ Appellate Tribunal (SAT) disposed of an application for stay of the recovery of a penalty imposed by an order of the Whole Time Member of SEBI dated 24 December 2020. SAT has granted a partial stay on the recovery of the penalty subject to a deposit of one half of the penalty. The order reads thus:

“All the appeals raise a common issue and are being taken together. Connect with Appeal No. 294 of 2019 (Dr. Prannoy Roy vs SEBI). Four weeks’ time is allowed to the respondent to fle a reply from today. Two weeks thereafter to the appellant to fle a rejoinder. The matter would be listed for admission and for fnal disposal on April 6, 2021.

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