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The High Court at Goa also observed that the cess was rightfully imposed by the State of Goa as a fee to employ mechanisms to reduce carbon footprints arising from the activities of the companies that paid such cess.
Senior counsel Darius Khambata, who appeared for SEBI informed the tribunal that while the investigation is likely to be completed in eight months as per SEBI's chairperson, he will take further instruction and apprise the tribunal of the same.
The Securities Appellate Tribunal (SAT) has questioned the credibility of the Securities and Exchange Board of India (SEBI) in completing its investigation into alleged fund misappropriation by Zee Entertainment Enterprises. SAT stated that SEBI has a history of extending investigation periods and lacks credibility in completing them within a specified time frame.
The Securities Appellate Tribunal (SAT) on Thursday questioned market regulator Sebi's credibility on completing its investigation within a stipulated time in the Zee Entertainment Enterprises' (ZEEL) matter. SAT was hearing Zee's plea against Sebi's order baring Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra from holding any key managerial positions in the company and other organisations for allegedly siphoning off funds of the media firm. 'There is no certainty that these eight months won't be extended. ...past record of Sebi is that they have always extended it (investigati...
Securities Appellate Tribunal postpones final hearing on plea challenging SEBI order barring Zee Entertainment executives