Zee Entertainment Enterprises CEO & MD Punit Goenka and the promoter family can continue to call the shots with a tiny equity stake. Financial institutions may wait for Goenka to find a white knight and for Sebi s final report and court decision. Depromoterisation is voluntary, but the promoters and CEO of Zee want to continue. Shareholders rarely push for change due to a lack of activism in the corporate landscape.
Zee-Sony merger news: Last month, the division bench comprising judicial member HV Subba Rao and technical member Madhu Sinha reserved the order on the merger.
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.
The Securities Appellate Tribunal has dismissed pleas by Zee Entertainment promoters Subhash Chandra and Punit Goenka challenging the Securities and Exchange Board of India s interim order that restrains the two from holding board positions in public listed companies for a year due to alleged fund diversion.