Removing Radhika and Prannoy Roy as directors of New Delhi Television Limited (NDTV) or barring them from holding key managerial positions would not serve the interests of either shareholders or investors, the Securities Appellate Tribunal (SAT) at Mumbai has said as it stayed an order by SEBI issued on Friday.
SAT also said that "the whole world knows about the order" except "the aggrieved party" and faulted SEBI for uploading its order on the website without informing those affected by it.
The appeal of Radhika and Prannoy Roy against SEBI's order will be heard on September 16.
The complete SAT order may be read here:
http://sat.gov.in/english/pdf/E2019_JO2019346.PDF