Monday s order, which now supersedes a restrictive ruling by the Securities and Exchange Board of India (Sebi) in August, ensures Goenka will continue to hold leadership positions in Zee and, in the future, as a key executive of the merged entity. The capital markets regulator could challenge the SAT ruling in the Supreme Court.
Stocks that were in focus included names like ZEE, which rose 0.06%, SBI Card, which declined 5.05%, and IDFC First Bank, whose shares dropped 3.08% on Monday.
India Business News: Securities Exchange Board of India (Sebi), in August, had barred Goenka and Zee Group Chairman Subhash Chandra from holding positions in Zee company b
Sony Group Corp s India unit and Zee Entertainment Enterprises Limited (ZEEL) are aiming to close their pending merger deal by November, according to sources familiar with the matter. Despite appeals from financial institutions, the merger could proceed as planned. The Boston Consulting Group is working to complete the integration process. There have been reports of Sony exploring talks with Walt Disney for its India assets due to the delay in completing the merger with ZEEL. Both Sony and Zee have declined to comment. The Zee stock has risen over 40% since June in anticipation of the merger.