Security Exchange Board of India (Sebi) has barred NDTV promoters, Prannoy Roy and Radhika Roy, from the capital market for 2 years and also directed them to disgorge illegal gains of more than Rs 16.97 crore for indulging in insider trading more than 12 years ago. The Sebi has also barred seven individuals and entities for insider trading in the shares of the company for a period from one to two years.

The directions follow a probe conducted by the Sebi between September 2006 and June 2008 wherein various violations of insider trading regulations were found. The amount has to be paid jointly or severally by them along with 6 percent interest from April 17, 2008 till the date of actual payment.

All the entities have violated Prohibition of Insider Trading Regulations, Sebi said in three separate orders passed late on Friday. Sebi noted that Prannoy Roy and Radhika Roy together made a gain of Rs 16.97 crore while indulging in insider trading in the shares of New Delhi Television Ltd (NDTV) while in possession of UPSI relating to the proposed reorganization of the company.

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