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 from their listed entity ZEEL. After examining the bank statements of ZEEL, Sebi found out that although ZEEL claimed to have received ₹200 crore from these associate entities of promoters --- major portion of the said funds had actually originated from either ZEEL itself or the listed companies of Essel Group. Data from Sebi showed that ZEEL and other listed companies of Essel Group had at least transfered ₹143.90 crore -- to falsely portray repayment of due amounts to ZEEL from these associate entities.

Bank Sebi Funds Yes Bank Associate Loc Subhash Zee Entertainment Chandra Entities Goenka Listed Zeel Subhash Chandra Punit Goenka Its Subsidiaries Punit Essel Group Promoter Family Subhash Chandra And Punit Goenka Key Managerial Personnel Other Listed Companies Essel  zeel  managerial  chandra  sebi  associate  directorial  subhash  punit  listed  funds  goenka  bans  roles  essel  entities

History of this topic

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

Tribunal lifts ban on Zee's Goenka on holding key positions
1 year, 1 month 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, 3 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. …

Ministry Of Corporate Affairs Looking Into SEBI's Order Against Zee Entertainment: Report
1 year, 4 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 …

SAT Refuses To Stay SEBI Order Against ZEE Promoters Punit Goenka, Subash Chandra: Report
1 year, 5 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 …

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