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Shares of the Indian media house fell 34% on Tuesday while investors shrugged off the impact on $124 billion Japanese media and technology giant Sony.
It observed that the WTM who barred Goenka and Chandra from holding directorial positions could have been influenced by proceedings he was presiding over, which may have involved the Zee promoters.
Goenka and Chandra challenged a SEBI interim order barring them from holding directorial or key managerial positions (KMPs) in any listed company or its subsidiaries.