New Delhi: The Delhi High Court quashed 2019 Look-Out Circulars (LOCs) issued by the CBI against NDTV promoters Prannoy Roy and Radhika Roy, conditional on their cooperation with the ongoing probe.
Justice Sachin Datta ruled: "The impugned LOC is quashed, subject to the petitioners cooperating with the investigation". The full order awaits publication.
The LOCs tied to FIRs from June 2017 and August 2019. CBI closed the 2017 case after a closure report, accepted by the court on January 23; the 2019 probe continues without chargesheet.
The 2017 FIR, filed on Quantum Securities' Sanjay Dutt's complaint, alleged RRPR Holdings (linked to Roys) borrowed Rs 500 crore from ICICI Bank at 19% interest to repay an India Bulls loan and buy 20% NDTV stake. Roys allegedly pledged shares as collateral without disclosing to SEBI, exchanges, or I&B Ministry, conspiring with bank officials.
CBI's closure report noted similar interest concessions across accounts from 2007-2010, not isolated to Roys.