Page 39 - Subhash Chandra News Today

Mondays order, which now supersedes a restrictive ruling by the Securities and Exchange Board of India (Sebi) in August, ensures Goenka will continue to hold leadership positions in Zee and, in the future, as a key executive of the merged entity. The capital markets regulator could challenge the SAT ruling in the Supreme Court.

The ban by Indian market regulator Securities and Exchange Board on ZEE MD Punit Goenka has been lifted after an appeal.

The SAT found that continuing the interim order was harsh and unwarranted, especially given SEBI's "track record" of not completing investigations on time.

The Securities Appellate Tribunal (SAT) on Monday overturned a regulatory ban on Punit Goenka, managing director and chief executive of Zee Entertainment Enterprises, that prevented him from holding a directorship or top managerial role in a listed entity.

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On Monday, the Securities Appellate Tribunal (SAT) revoked a prior regulatory prohibition on Punit Goenka, the managing director and CEO of Zee Entertainment Enterprises, from holding significant managerial roles in listed firms. This move potentially accelerates the intended merger between Zee and Culver Max Entertainment, the local subsidiary of Japan's Sony Group Corp. , Companies News, Times Now

In Gujarat’s Ekta Nagar, PM Narendra Modi urges Indians to be wary of those resorting to appeasement politics, saying they can never see the horror of terror and its monstrosity.

The Securities and Exchange Board of India had barred Goenka from holding the position of director or key managerial personnel (KMP) in the company and other group entities for alleged siphoning off funds

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While setting aside the order, the tribunal also directed Goenka to cooperate with Sebis probe against him. If any material comes out against Goenka during the course of the investigation, then the appropriate procedure can be adopted by the regulator in accordance with the law.