SEBI's interim order restricting Subhash Chandra and Punit Goenka from key managerial roles has not been stayed by the SAT. A final hearing is scheduled on June 19. Goenka has appealed, citing a lack of natural justice.
SEBI has 48 hours to respond to Zee Entertainment promoters' petition challenging a recent interim order. The order could impact the $1.6bn merger with Sony Corp. SAT wants a prompt response to avoid impacting the merger hearing.
Sony's merger with Zee Entertainment worth $7B may face further setbacks as Securities and Exchange Board of India (SEBI) bans CEO Punit Goenka and his father Subhash Chandra from holding key positions due to fund diversion. Sony aims for the strategic combination to be a formidable competitor against Disney, Reliance Industries, and Netflix.
ZEE Entertainment responds to SEBI's order against Subhash Chandra & Punit Goenka. The company is reviewing the order, prioritizing shareholders' interests during this process. SEBI's order is part of a broader investigation into the conglomerate.
SEBI's interim order restricting Subhash Chandra and Punit Goenka from key managerial roles has not been stayed by the SAT. A final hearing is scheduled on June 19. Goenka has appealed, citing a lack of natural justice.
SEBI has 48 hours to respond to Zee Entertainment promoters' petition challenging a recent interim order. The order could impact the $1.6bn merger with Sony Corp. SAT wants a prompt response to avoid impacting the merger hearing.