The Delhi High Court on Friday quashed the look-out circulars issued against NDTV founders Prannoy Roy and Radhika Roy in cases filed by the Central Bureau of Investigation (CBI).
Justice Sachin Datta said the relief would hold as long as the couple cooperates with the probe. “The impugned LOC are quashed subject to the petitioner cooperating with the investigation,” he said. The detailed order is awaited.
The Roys had approached the court in 2021, challenging the LOCs opened after two FIRs filed by the CBI in 2017 and 2019.
The 2017 FIR was based on a complaint by Sanjay Dutt of Quantum Securities Ltd. It alleged irregularities in repayment of a loan given by ICICI Bank to RRPR Holdings Pvt Ltd, a company linked to the Roys, causing a loss of Rs 48 crore to the bank.
The agency filed a closure report in this case in 2024. The 2019 FIR relates to alleged violations of foreign direct investment (FDI) norms by the NDTV founders.
Delhi High Court in January had quashed the 2016 income-tax notices to the Roys, calling them “arbitrary”, and told the department to pay Rs 1 lakh to each as a token cost.