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The Sebi action came after ELP represented Subhash Chandra and Punit Goenka, founder-promoters of Zee Entertainment (ZEE) in the securities appellate tribunal (SAT). The Zee founders had challenged Sebi s June 12 interim order that restrained them from holding directorships or key managerial positions in listed entities on account of alleged diversion of funds. ....
Zee Entertainment and IndusInd Bank on Monday announced that all the due payments have been settled between the two entities, as per media reports. Therefore, the National Company Law Appellate Tribunal (NCLAT) has disposed of the appeal. The two companies had informed NCLAT that they have reached a settlement in relation to their payment dispute, paving way for the Sony deal, in March 2023. ....
Goenka and Chandra challenged a SEBI interim order barring them from holding directorial or key managerial positions (KMPs) in any listed company or its subsidiaries. ....