SAT Refuses To Stay SEBI Order Against ZEE Promoters Punit Goenka, Subash Chandra: Report
ABP NewsThe Securities Appellate Tribunal on Monday refused to stay SEBI's order that barred them from holding key management positions in any listed firm, a report by Moneycontrol stated. According to the report, the SAT had reserved the case for orders on June 27 after hearing both ZEE Entertainment Chief Executive Officer Punit Goenka and the SEBI at length. The SEBI had, in an interim order, on June 12, said Subhash Chandra and Goenka had allegedly "abused their positions" for personal financial gains. The SEBI has imposed a one-year ban on ZEE Entertainment's Chairman Subhash Chandra and CEO Goenka for being actively involved in diverting company funds to the group's related entities, raising questions on the future of the ZEE-Sony merger. Punit Goenka’s comments come after Sony on Wednesday said it took the SEBI’s ban on Chandra and Goenka "seriously" and will monitor developments that may affect the deal, which was announced in 2021.
History of this topic
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