
SAT sets aside SEBI order against Zee’s Punit Goenka
The SAT order will eventually pave the way for Goenka to resume his role as MD & CEO of Zee, and head the merged entity, which has already received NCLT approval
The SAT order will eventually pave the way for Goenka to resume his role as MD & CEO of Zee, and head the merged entity, which has already received NCLT approval
SEBI this month, in another order, had barred Goenka and Chandra from the boardrooms of four Zee group companies
On June 12, Zee promoters Chandra, Goenka were barred by SEBI from taking leadership roles at listed firm; regulator also sought "urgent action" against them
SEBI probe had found Zee made delayed disclosure -- 54 days in 3 instances and 27 days in 2 instances -- to exchanges over the invocation of pledged shares
SEBI probe reveals Chandra and Goenka allegedly siphoned off ₹200 crore from ZEEL for their own benefit
SEBI's investigation concluded that the launch of Zeeplex was Unpublished Price Sensitive Information (UPSI) which had not been considered as such by ZEE.
The proposed merger of ZEE Entertainment Enterprises and Sony Pictures Networks India was supported by 99.99% of ZEEL's shareholders.
With the approved merger, SPNI will hold a 52.93% stake in the combined entity, whereas Zee will hold a 47.07%.
The Sensex and Nifty are poised to open flat to higher on Monday, tracking mixed cues from Asian peers and muted trends on SGX Nifty Futures.
The combined company will include 75 TV channels, two film studios, two video streaming services, and a digital content studio.