Mukul Rohatgi, Senior Advocate for Prannoy Roy and Radhika Roy started making submission that penalty proceedings were initiated, to which Solicitor General Tushar Mehta submitted that penalty proceedings are different.
The Supreme Court bench led by Chief Justice NV Ramana took up the plea. Solicitor General of India Tushar Mehta appeared and informed Court that it was consented to, by NDTV that the same be taken up next week, Friday. Court then said that in that case, coercive steps may not be taken against the Roy's.
The penalty was imposed in a case where SEBI received a complaint dated August 26, 2017 from Quantum Securities Pvt Ltd relating to the 3 loan agreements signed between Prannoy Roy, Radhika Roy and RRPR Holding Pvt.