The Delhi High Court on Friday took exception to a Look Out Circular (LOC) against journalists and NDTV founders Prannoy and Radhika Roy continuing for nearly three years. Justice Prathiba M Singh told counsel appearing for the Central Bureau of Investigation (CBI) that an LOC can't continue in perpetuity, observing,"You can't continue in perpetuity… Don't even try to argue that."
NDTV promoters Prannoy Roy and Radhika Roy have moved Supreme Court (SC) against the Securities Appellate Tribunal (SAT) order asking them to deposit Rs. 2.97 Crore in connection with the alleged violation of SEBI regulations. The Roys have pointed to a Delhi HC interim order of last year which had granted them inspection of documents in another show cause notice issued by SEBI.
The Supreme Court has issued notice against the order by Securities Appellate Tribunal (SAT) in an appeal filed by the Securities and Exchange Board of India. On August 9, NDTV founders Prannoy Roy and Radhika Roy were prevented from leaving the country. The basis of this was a lookout circular issued by the CBI on the basis of the two FIRs lodged against them.
