 "Monitoring regulatory developments against Zee founder, CEO: Sony")
Sony Pictures Entertainment said on Wednesday it took the Indian markets regulator's order banning Zee Entertainment founder and chief executive officer from holding board positions "seriously" and will continue to monitor developments that may affect its deal with Zee.
This was Sony's first comment post the Securities and Exchange Board of India's (SEBI) ban last week against Zee Group Chairman Subhash Chandra and CEO Punit Goenka for a year, saying they were actively involved in diverting company funds to the group's related entities.
Chandra and Goenka then moved the Securities Appellate Tribunal (SAT) challenging the ban.
The ban comes as worries over a potential delay on the merger of Zee Entertainment with the local unit of Japan's Sony Corp have resurfaced.
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