As a result of Chandra being admitted to moratorium, no litigation can be initiated against him. Chandra also cannot alienate or sell any of his assets and the Resolution Professional will now process the claims of those who intend to recover money from him.
India's market regulator has made a preliminary finding that 20 billion rupees ($240 million) has been diverted out of Zee Entertainment Enterprises' books, and Zee ..
India's Securities and Exchange Board (SEBI) has uncovered a significant discrepancy exceeding 20 billion rupees ($241.36 million) in the accounts of Zee Entertainment Enterprises, according to the Bloomberg sources. SEBI had previously accused Zee Group's founders, Chairman Subhash Chandra and CEO Puneet Goenka, of actively diverting company funds to other listed entities., Companies News, Times Now
The amount flagged by SEBI was roughly 10 times higher than investigators had initially estimated, the Bloomberg report said. The amount calculated was not final and could be revised after SEBI reviewed responses from the company's executives, the report added.