Bombay High Court adjourns hearing on appeal by Subhash Chandra to June 26

Chandra had filed an appeal against the order and summons by Sebi in the alleged fund diversion matter in Zee Entertainment Enterprises

The Bombay High Court on Wednesday adjourned the hearing on an appeal by Essel Group’s Chairman Subhash Chandra to June 26. Chandra had filed an appeal against the order and summons by the Securities and Exchange Board of India (Sebi) in the alleged fund diversion matter in Zee Entertainment Enterprises. Legal experts said that the matter could be taken up afresh by the HC. In an earlier hearing in April, the Bombay HC had given relaxation to Chandra from summons. A separate hearing on the same matter is scheduled in the Securities Appellate Tribunal (SAT) on July 29.