NDTV Founder Prannoy Roy and his wife Radhika Roy were stopped from flying abroad by authorities at Mumbai airport.
The move was at the behest of Central Bureau of Investigation, which is looking into allegations against the Roys.
NDTV termed the development as complete subversion of media freedom.
"In a complete subversion of basic rights, NDTV founders Radhika and Prannoy Roy were today prevented from leaving the country," NDTV said in a series of tweets.
"Both journalists had tickets to return to India on the 16th, just a week later. They have been stopped from travelling abroad based on a fake and wholly unsubstantiated corruption case initiated by the CBI that was filed two years ago," it said.
" Today’s action is, along with events like raids on media owners, a warning to the media to fall in line- or else, " NDTV said in a statement.