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
Shares of the company have surged over 15% in the last two trading sessions
SAT directed SEBI to pass a final order by the middle of next month and asked Chandra and Goenka to defend themselves before the regulator
The NCLT approval is an important legal milestone for the merger scheme to come into effect
Tribunal directs founders to respond within two weeks; asks Sebi to appoint new WTM to probe the matter
Stocks to watch on July 10, 2023: BHEL, Delta Corp, Granules and India Cements are the four stocks in F&O ban period on Monday.
After hearing arguments from the senior counsels of Zee promoters and Sebi, SAT had reserved its order in the case on June 27
Economic Laws Practice defended the founders of Zee Entertainment in a case against the regulator in the securities appellate tribunal
The tribunal has asked both parties to pay the cost of the interim resolution professional for the period the case was under the resolution process
Refuses to take on record additional affidavit filed by Sebi in the matter
Goenka was set to become the merged entity's managing director and CEO, leading a $10 billion TV enterprise
The US-based brokerage doesn't have any price target, given the uncertainty surrounding the merger and pressure on revenue growth due to slower ad spending
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
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Tribunal adjourns case to June 26
Market regulator Sebi in its reply to the Securities and Appellate Tribunal (SAT) on the Zee Entertainment Enterprises Ltd's plea has called for urgent action against the promoters in the alleged fund diversion case to safeguard the management, investors and other stakeholders. In its affidavit, the Securities and Exchange Board of India (Sebi) pointed out that the applications made by Chairman Emeritus Subhash Chandra and Managing Director and CEO Punit Goenka on July 6, 2022, that "there was no urgency and that the same issue is the subject matter of the show cause notice dated July 6, 2022, is completely false and misleading." Sebi further stated that "not only have there been violations but also the issuance of multiple false disclosures and submission of statements to cover up such wrongdoings." "In the instant case, we have a situation before us where the Chairman Emeritus and the Managing Director and CEO of this large listed company are involved in a myriad of different ...
In affidavit to SAT, regulator says move taken to safeguard management, protect investors and stakeholders
Stocks to watch on June 14, 2023: BHEL, Delta Corp, Indiabulls Housing Finance, IEX, India Cements and Manappuram Finance are the six stocks in F&O ban period today.