The SAT found that continuing the interim order was harsh and unwarranted, especially given SEBI's "track record" of not completing investigations on time.
SEBI had ordered that Chandra and Goenka cannot hold directorial positions pending the completion of investigation against them, which was ordered to be completed in eight months.
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.