After Sebi order on Subhash Chandra, Punit Goenka, Zee share price to be in focus
Sebi's orders come after it found that Subhash Chandra and Punit Goenka siphoned off funds for their own benefits from their listed entity ZEEL
Zee Entertainment Enterprises Ltd (ZEEL) shares will remain on investors’ radar after capital market regulator Securities & Exchange Board of India's (SEBI) recent order on Essel Group Chairman Subhash Chandra and ZEEL’s Chief Executive Officer (CEO) Punit Goenka.
The regulator has banned Chandra and Goenka from being directors or holding a Key Managerial Personnel in any listed company or its subsidiaries until further orders.
Sebi's orders come after it found that Subhash Chandra and Punit Goenka siphoned off funds for their own benefits from their listed entity ZEEL.
In an interim order on Monday, Sebi asked ZEEL to place this direction before its board within 7 days from the date of receipt.
The regulator also gave both, Subhash Chandra and Punit Goenka, 21 days of time to file their reply or objections if any in the case.
