 "Securities and Appellate Tribunal to pronounce Zee verdict on Monday")
The Securities and Appellate Tribunal (SAT) will on Monday pronounce its judgement on appeals filed by the promoters of Zee Entertainment Enterprises against an order passed by the Securities and Exchange Board of India (Sebi).
In an interim ex-parte order on June 12, the market regulator debarred Zee MD & CEO Punit Goenka and Essel group chairman Subhash Chandra from taking key managerial positions and directorships at listed companies due to alleged fund diversion at Zee.
After hearing arguments from the senior counsels of Zee promoters and Sebi, SAT had reserved its order in the case on June 27. The National Company Law Tribunal (NCLT) has also adjourned the hearing on Zee-Sony merger to July 10.
In an interim ex-parte order on June 12, the market regulator debarred Zee MD & CEO Punit Goenka and Essel group chairman Subhash Chandra from taking key managerial positions and directorships at listed companies due to alleged fund diversion at Zee.
After hearing arguments from the senior counsels of Zee promoters and Sebi, SAT had reserved its order in the case on June 27. The National Company Law Tribunal (NCLT) has also adjourned the hearing on Zee-Sony merger to July 10.