Delhi High Court Quashes LOC Against NDTV Founders

The Delhi High Court annulled the lookout circular against NDTV founders Prannoy and Radhika Roy, with Justice Sachin Datta ruling their cooperation in the ongoing CBI investigation. The cases stem from FIRs lodged due to alleged irregularities with ICICI loans and FDI norms violations dated back to 2017 and 2019.

In a significant development, the Delhi High Court has quashed the look-out circular (LOC) issued against NDTV founders, Prannoy and Radhika Roy. This decision comes amid ongoing Central Bureau of Investigation (CBI) inquiries that began with FIRs lodged in 2017 and 2019.

Justice Sachin Datta, presiding over the matter, instructed the Roys to cooperate fully with the investigation, securing their freedom from travel restrictions imposed by the LOC. The detailed judgement is still awaited, offering a reprieve to the entrepreneurs as legal proceedings continue.

The controversy began with allegations of financial irregularities linked to ICICI Bank loans and Foreign Direct Investment (FDI) norms, prompting investigative actions by authorities. A 2017 case closure was filed by CBI after an initial complaint from Sanjay Dutt of Quantum Securities, highlighting a purported Rs 48 crore loss to the bank.

(With inputs from agencies.)