Ministry Of Corporate Affairs Looking Into SEBI's Order Against Zee Entertainment: Report
1 year, 5 months ago

Ministry Of Corporate Affairs Looking Into SEBI's Order Against Zee Entertainment: Report

ABP News  

The Ministry of Corporate Affairs is looking into SEBI's order against Zee Entertainment Enterprises for alleged irregularities, reported ET Now on Friday. In June, the market regulator banned Zee Chairman Subhash Chandra and CEO Punit Goenka for alleged "abused their positions" for personal financial gains. On Friday, the report said that Corporate Affairs Ministry has taken cognizance of the SEBI's interim order of June 12 and is probing lapses in corporate governance. Securities and Exchange Board of India has imposed a one-year ban on Zee's Chairman Subhash Chandra and CEO Punit Goenka from holding any board positions in listed companies.

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History of this topic

Sebi clubs fund diversion, disclosure violation probes against ZEE, Punit Goenka and Subhash Chandra
1 week, 1 day ago

Sebi clubs fund diversion, disclosure violation probes against ZEE, Punit Goenka and Subhash Chandra

Live Mint  

The capital market regulator on Thursday clubbed proceedings against Zee Entertainment Enterprises Ltd, its chief executive Punit Goenka and former chairman Subhash Chandra over allegations of fund diversion and violation of disclosure requirements. In response, Zee and Goenka filed settlement applications with Sebi, which the regulator rejected in April 2023 and referred the case for further investigation. In August 2023, …

SEBI to continue proceedings against ZEEL, issue fresh show cause notice
1 week, 1 day ago

SEBI to continue proceedings against ZEEL, issue fresh show cause notice

The Hindu  

Markets watchdog Securities and Exchange Board of India on Thursday said it will slap a fresh show cause notice on Zee Entertainment Enterprises Limited founder chairman Subhash Chandra, and his son Punit Goenka as it vowed to continue the investigation into alleged violation of listing norms against the media baron and his company. The order passed by SEBI’s adjudicating officer …

SEBI suspends trading of Bharat Global Developers over financial misrepresentation
2 weeks, 5 days ago

SEBI suspends trading of Bharat Global Developers over financial misrepresentation

Deccan Chronicle  

New Delhi: Markets regulator Sebi on Monday suspended trading in Bharat Global Developers Ltd for financial misrepresentation, misleading disclosures, price manipulation, and offloading shares at inflated prices. In fact, such wealth has arisen from misrepresentation of the company's business and financials to general investors and shareholders," Sebi Whole Time Member Ashwani Bhatia said in his 25-page order. Accordingly, Sebi in …

‘SEBI chairperson must resign’: Jairam Ramesh says while reiterating Congress’ demand for JPC probe
4 months, 3 weeks ago

‘SEBI chairperson must resign’: Jairam Ramesh says while reiterating Congress’ demand for JPC probe

The Hindu  

Congress general secretary in-charge communications Jairam Ramesh on Saturday called for the resignation of the SEBI chief Madhabi Puri Buch, who has been accused of irregularities by Hindenburg Research, and reiterated his party’s call for a Joint Parliamentary Committee investigation “into the Adani Mega Scam.” Mr. Ramesh cited a media report which talks about Ms. Buch and her husband’s connection …

Raselle Capital VCC settles FPI violation case with Sebi, pays Rs 1.23 cr
6 months, 1 week ago

Raselle Capital VCC settles FPI violation case with Sebi, pays Rs 1.23 cr

Business Standard  

The order came after Raselle Capital proposed to settle the instant proceedings initiated against it without "admitting or denying the findings of facts and conclusions" of the law. | Photo: Bloomberg Foreign portfolio investor Raselle Capital VCC has settled a case related to the alleged violation of FPI rules with capital markets regulator Sebi after paying Rs 1.23 crore as …

Eros International moves SAT against Sebi’s order in fund diversion matter
6 months, 1 week ago

Eros International moves SAT against Sebi’s order in fund diversion matter

Live Mint  

Mumbai: Media company Eros International, along with its key executive officials, on Friday moved the Securities Appellate Tribunal against the Securities and Exchange Board of India’s October 2023 restraint order in an alleged fund diversion matter. The market regulator in its order had restrained vice chairman Sunil Lulla from holding the position of a director or a key managerial personnel …

Sebi to question Zee top bosses Subhash Chandra and Punit Goenka: Report
10 months, 2 weeks ago

Sebi to question Zee top bosses Subhash Chandra and Punit Goenka: Report

Hindustan Times  

The Securities and Exchange Board of India is set to question Zee Entertainment Enterprises' top management- founder Subhash Chandra an chief executive and managing director Punit Goenka- on the alleged fund diversion at the media firm, Economic Times reported citing two people in the know. In June last year, Sebi said that ₹200 crore from Zee were diverted through related …

Sebi scuttled Zee’s merger with Sony: Subhash Chandra to finance minister
11 months, 2 weeks ago

Sebi scuttled Zee’s merger with Sony: Subhash Chandra to finance minister

Hindustan Times  

Mumbai: A week before Japan’s Sony Group Corp. called off the merger of its local unit with Zee Entertainment Enterprises Ltd, Subhash Chandra, founder-promoter of the Indian entertainment giant, wrote to Union finance minister Nirmala Sitharaman, accusing the country’s markets regulator of attempting to scuttle the $10-billion merger. On Monday, Sony sent a termination notice to Zee, pulling the plug …

Tribunal lifts ban on Zee's Goenka on holding key positions
1 year, 2 months ago

Tribunal lifts ban on Zee's Goenka on holding key positions

The Hindu  

The Securities Appellate Tribunal on Monday lifted the ban on Zee Entertainment top boss Punit Goenka to hold board positions in any of the four Zee Group companies, paving the way for him to resume the proposed role in the planned merger between ZEE and the Indian unit of Japan's Sony Group. India markets regulator, Securities Exchange Board of India, …

SAT postpones Punit Goenka’s plea against SEBI order; next hearing on...
1 year, 4 months ago

SAT postpones Punit Goenka’s plea against SEBI order; next hearing on...

Live Mint  

The Securities Appellate Tribunal adjourned the final hearing on a plea challenging a Sebi confirmatory order against Zee Entertainment Enterprises' chiefs. Sebi order barred ZEEL's Punit Goenka and Shubhash Chandra from holding any key positions in the company and other organisations. In its confirmatory order, Sebi restricted Goenka and Chandra from holding any directorship or other key managerial positions in …

SEBI bars Subhash Chandra, Punit Goenka from from holding key positions in Zee
1 year, 4 months ago

SEBI bars Subhash Chandra, Punit Goenka from from holding key positions in Zee

Live Mint  

Capital market regulator Securities and Exchange Board of India on August 14 modified its order against Subhash Chandra and Punit Goenka, and barred them from holding the post of director or key managerial personnel in at least four Zee Group companies as well as in the merged entity of Zee Entertainment Enterprises and Sony Pictures Networks India till further directions. …

SAT Refuses To Stay SEBI Order Against ZEE Promoters Punit Goenka, Subash Chandra: Report
1 year, 6 months ago

SAT Refuses To Stay SEBI Order Against ZEE Promoters Punit Goenka, Subash Chandra: Report

ABP News  

The 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 …

Sony Pictures to keep tracking developments in SEBI interim order against ZEE's Subhash Chandra, Punit Goenka
1 year, 6 months ago

Sony Pictures to keep tracking developments in SEBI interim order against ZEE's Subhash Chandra, Punit Goenka

The Hindu  

The SPE on June 21 said, it will continue to monitor developments that may affect the merger deal between its Indian arm and ZEEL. In a statement following reports over the fate of the deal in view of SEBI's interim order against Essel Group chairman Subhash Chandra and ZEEL MD and CEO Punit Goenka, SPE said it takes the SEBI …

Zee Promoters Approach Securities Appellate Tribunal Against SEBI Order: Report
1 year, 6 months ago

Zee Promoters Approach Securities Appellate Tribunal Against SEBI Order: Report

ABP News  

The promoters of Zee Entertainment Enterprises Ltd have approached the Securities Appellate Tribunal to seek relief against the SEBI's order on Tuesday. Shares of Zee Entertainment Enterprises fell over 6.50 per cent in morning trade on Tuesday after SEBI banned Essel Group chairman Subhash Chandra and ZEEL's Punit Goenka from holding any directorial or key managerial position in any listed …

Sebi Bans Subhash Chandra, Punit Goenka From Holding Key Position In ZEE Board, Shares Tumble 7 Per Cent
1 year, 6 months ago

Sebi Bans Subhash Chandra, Punit Goenka From Holding Key Position In ZEE Board, Shares Tumble 7 Per Cent

ABP News  

Zee Entertainment Enterprises' shares fell over 6.50 per cent in early morning trade on Tuesday after the Securities and Exchange Board of India banned Essel Group Chairman Subhash Chandra and ZEE MD and CEO Punit Goenka from holding any directorial or key managerial position in any listed company. The Sebi in an interim order on Monday barred Subhash Chandra and …

SEBI bars Subhash Chandra, Puneet Goenka from holding key positions in Zee
1 year, 6 months ago

SEBI bars Subhash Chandra, Puneet Goenka from holding key positions in Zee

The Hindu  

The Securities and Exchange Board of India has banned Subhash Chandra and Punit Goenka from holding any managerial or directorial positions in Zee Entertainment Enterprises after it found the ‘father-son’ duo were siphoning off funds for their own benefit. The June 12 order stated, “The Noticees shall cease to hold the position of a director or key managerial personnel in …

Sebi bans Subhash Chandra, Punit Goenka from directorial, managerial roles
1 year, 6 months ago

Sebi bans Subhash Chandra, Punit Goenka from directorial, managerial roles

Live Mint  

Market regulator Sebi has banned Subhash Chandra, chairman of Essel Group and Punit Goenka, the Chief Executive Officer of Zee Entertainment Enterprises from holding a director or Key Managerial Personnel in any listed company or its subsidiaries until further orders. Sebi's directions come after the regulator found that Subhash Chandra and Punit Goenka siphoned off funds for their own benefits …

An unclean chit: The Hindu Editorial on the SEBI investigation and Hindenburg Research’s allegations
1 year, 7 months ago

An unclean chit: The Hindu Editorial on the SEBI investigation and Hindenburg Research’s allegations

The Hindu  

Last Wednesday, the Supreme Court granted the Securities and Exchange Board of India more time to complete its investigation into Hindenburg Research’s allegations of malfeasance, stock price manipulations and violations of minimum public shareholding requirements in Adani Group firms. But the findings of a six-member expert panel, tasked by the Court to review Indian securities market’s overall regulatory and investor …

Weekly Digest Of IBC Cases: 27 February To 6 March 2023
1 year, 10 months ago

Weekly Digest Of IBC Cases: 27 February To 6 March 2023

Live Law  

NCLAT Case Title: Greymatter Entertainment Pvt. 1043 of 2021 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Ms. Shreesha Merla, has held that IBC does not prevent the Corporate Debtor from establishing defences of ‘Pre-existing dispute’ or ‘No amount due’ through its Reply to Section 9 application and supporting documents, even if it failed …

NCLAT Delhi Stays Insolvency Proceedings Against Zee Entertainment Enterprises Ltd.
1 year, 10 months ago

NCLAT Delhi Stays Insolvency Proceedings Against Zee Entertainment Enterprises Ltd.

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, while adjudicating an appeal filed in Punit Goenka v Indusind Bank Ltd. & Anr., has stayed the NCLT order dated 22.02.2023, whereby Corporate Insolvency Resolution Process was initiated against Zee Entertainment Enterprises Ltd. Background Facts Zee Entertainment Enterprises Ltd. is an Indian media …

Now, Sebi faces CBI, FinMin in NSE case
2 years, 10 months ago

Now, Sebi faces CBI, FinMin in NSE case

Live Mint  

MUMBAI : The Securities and Exchange Board of India’s orders on the co-location scam and hiring irregularities at National Stock Exchange of India Ltd are now being probed by the Union finance ministry and the Central Bureau of Investigation, said two people with direct knowledge of the matter. “The finance ministry has sought a report from the market regulator on …

SEBI fines NSE, Chitra Ramkrishna, Ravi Narain and others in key appointment case
2 years, 10 months ago

SEBI fines NSE, Chitra Ramkrishna, Ravi Narain and others in key appointment case

The Hindu  

SEBI on February 11 penalised the NSE and its former MDs and CEOs, Chitra Ramkrishna and Ravi Narain, and others for violating securities contract rules in a case related to the appointment of Anand Subramanian as group operating officer and advisor to MD. SEBI found that Mr. Subramanian was re-designated as the ‘group operating officer and advisor to MD’ from …

Zee approaches NCLAT, seeks more time to respond
3 years, 3 months ago

Zee approaches NCLAT, seeks more time to respond

Hindustan Times  

Zee Entertainment Enterprises Ltd on Wednesday approached an appellate tribunal in a fresh turn in the ongoing tussle with two of its institutional investors even as the company proceeds with a planned merger with Sony Group Corp. The unfolding corporate battle at Zee began after Invesco approached NCLT to direct the company’s board to hold an extraordinary general meeting to …

Madras HC issues notice to SEBI, MCA, ED in NSE co-location case
5 years, 3 months ago

Madras HC issues notice to SEBI, MCA, ED in NSE co-location case

India TV News  

The Madras High Court has admitted a Public Interest Litigation filed by the Chennai Financial Markets and Accountability in the National Stock Exchange co-location case and issued notices to the SEBI, the Ministry of Corporate Affairs, the CBI, Enforcement Directorate and the NSE. The order copy dated September 27 also said that the PIL brought to the knowledge of the …

CG Power scam: SEBI bars Gautam Thapar from stock markets
5 years, 3 months ago

CG Power scam: SEBI bars Gautam Thapar from stock markets

India TV News  

Days after the revelation of fraud at CG Power, market regulator Sebi on Tuesday restrained the company's former Chairman Gautam Thapar and some other board members from accessing the securities market and ordered the appointment of an independent auditor for conducting a detailed forensic audit from 2015-16 onwards. The Security and Exchange Board of India said that in "order to …

NDTV says SEBI order asking Prannoy and Radhika Roy to step down as directors 'bad in law'; duo to challenge market regulator in court
5 years, 6 months ago

NDTV says SEBI order asking Prannoy and Radhika Roy to step down as directors 'bad in law'; duo to challenge market regulator in court

Firstpost  

The Roy couple has also been barred from holding a board or key managerial position at any other listed company for one year, SEBI said while coming down heavily on them and RRPR Holdings Pvt Ltd for what it termed as violation of various regulations by keeping minority shareholders in the dark about three loan agreements. One such loan agreement …

IL&FS Securities Services moves SAT against Sebi order on Allied Financial
5 years, 8 months ago

IL&FS Securities Services moves SAT against Sebi order on Allied Financial

India TV News  

IL&FS Securities Services Wednesday moved the Securities Appellate Tribunal to direct markets regulator Sebi to annul certain transactions carried out by Allied Financial Services. In February, Sebi had barred Allied Financial and others for misappropriating client securities and a host of other violations. Appearing for IL&FS Securities counsel Gaurav Joshi said there were fraudulent mutual fund transfers carried out by …

Sebi seeks greater powers to inspect books of listed companies to thwart financial frauds
5 years, 9 months ago

Sebi seeks greater powers to inspect books of listed companies to thwart financial frauds

Firstpost  

Sebi has proposed a heavy penalty for altering, destroying, mutilating, concealing or falsifying records and documents or other tangible objects New Delhi: With an aim to thwart financial frauds, regulator Sebi has sought powers to conduct inspection of books of accounts of listed companies for contravention of any securities law and also to take direct action against the fraudsters. The …

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