The market regulator is investigating the alleged fund diversion by Chandra and his son Punit Goenka, who is also the managing director and chief executive officer of Zee
SAT to hear the matter next on March 8, gives 10 days to Sebi to file reply
This comes just a day after media reports suggested that Sebi has found an accounting 'hole' of Rs 2,000 crore in Zee's books
Stock tanks 14% amid reports of 10x fund diversion; Sebi final order expected by mid-April
In the same order, issued in August 2023, Chandra's son Punit Goenka was granted relief by the tribunal
A report on Wednesday said that the market regulator has found a "hole" of more than Rs 2,000 crore in the accounts of Zee Entertainment Enterprises Ltd
Chandra also said that as a promoter, he was "seriously considering" filing a criminal case against Sony
Last month, the two companies were given a one-month grace period to close the merger of their India operations
With this, Goenka can now be appointed as the Managing Director (MD) of the merged entity
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Arguing on behalf of Goenka, senior counsel Abhsihek Manu Singhvi pointed that there had been no loss to Zee and no gain to Goenka in the alleged matter
Chandra will also get back three properties, one of which is a bungalow in central Delhi
With JC Flowers ARC's 24.19% stake in the company, Chandra's total holding in the satellite TV operator will rise to 28.2%, if the transaction goes forth
An Indian tribunal on Monday dismissed an appeal by former Zee Group Chairman Subhash Chandra and Zee Entertainment CEO Punit Goenka to lift the markets regulator's ban
Tribunal directs founders to respond within two weeks; asks Sebi to appoint new WTM to probe the matter
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Goenka and Chandra have denied the charges and moved the Securities and Appellate Tribunal (SAT), asking it to stay the order where the matter is pending
Sony Pictures Entertainment on Wednesday said it took the India markets regulator's order banning Zee Entertainment founder and chief executive officer from holding board positions seriously
The stock quoted its lowest level since September 2021, with over three-fold jumped in average trading volumes