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Disputes

NDTV’s Roys accused a friend-turned-foe. Here’s how they ended up with a ban and INR29 crore blow.

NDTV’s Roys accused a friend-turned-foe. Here’s how they ended up with a ban and INR29 crore blow.
NDTV’s Roys accused a friend-turned-foe. Here’s how they ended up with a ban and INR29 crore blow.
From left, Prannoy Roy, Vikram Chandra and Sanjay Dutt; image credit: Getty Images and BCCL

Synopsis

The media company filed three complaints against its former advisor Sanjay Dutt and his Quantum Securities in 2013-14. Seven years on, Sebi has banned not only Dutt and his company, but also issued similar orders against NDTV promoters Prannoy Roy and Radhika Roy over violation of insider-trading regulations. There was one key transaction that proved to be the Roys’ undoing.

They called the same school alma mater. They knew each other for decades. They had common friends and even “family relations”. Yet, when they fell out, the fight was bitter and prolonged, even turning ugly at times. One used words “disgruntled” and “shoddy” for the other in return of accusations of insider trading and money laundering. Prannoy Roy and Sanjay Dutt are chartered accountants. They both went to the elite Doon School, at different
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