SAT upholds SEBI interim order barring Subhash Chandra, Punit Goenka from holding directorial posts

The SAT refused to stay the effect of SEBI order, directed Goenka and Chandra to file their replies before SEBI within 2 weeks and directed SEBI to hear the matter within a week after the replies are filed.

Subhash Chandra, Punit Goenka, Securities Appellate Tribunal

The Securities Appellate Tribunal (SAT) on Monday upheld an interim order passed by Securities and Exchange Board of India (SEBI) barring Essel Group Chairman Subhash Chandra and Chief Executive Officer (CEO) of Zee Entertainment Enterprises Limited (ZEEL) Punit Goenka from holding directorial or key managerial posts in listed companies.

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SEBI

Zee Entertainment

Securities Appellate Tribunal

Subhash Chandra

Punit Goenka