The Delhi High Court on Friday set aside the look-out circulars (LOCs) issued against NDTV founders Prannoy Roy and Radhika Roy in connection with CBI cases, while directing them to cooperate with the ongoing investigation.
Delivering the order, Justice Sachin Datta ruled that the LOCs could not stand but made it clear that the relief was conditional. “The impugned LOC are quashed subject to the petitioner cooperating with the investigation,” the court said.
The Roys had approached the High Court in 2021, challenging the LOCs that were issued at the instance of the Central Bureau of Investigation (CBI) following two FIRs registered in 2017 and 2019.
The 2017 FIR stemmed from a complaint filed by Sanjay Dutt of Quantum Securities Ltd. It alleged irregularities in the repayment of a loan extended by ICICI Bank to RRPR Holdings Pvt Ltd, a company linked to the Roys. The complaint claimed that the alleged irregularities resulted in a loss of ₹48 crore to the bank. However, the CBI later filed a closure report in this case in 2024.
The second FIR, registered in 2019, relates to allegations of violation of foreign direct investment (FDI) norms by the NDTV founders.
While granting relief to the petitioners by quashing the LOCs, the High Court emphasised that they must continue to cooperate with the investigating agency. The detailed judgment is awaited.
