SEBI bars Subhash Chandra & Punit Goenka from holding top positions in ZEE-Sony merger
The Securities and Exchange Board of India (SEBI) has ruled that Essel Group founder Subhash Chandra and his son Punit Goenka will be unable to hold any top positions in the new ZEE-Sony merged company, until the investigation by the regulator ends.
Chandra and Goenka are being investigated by SEBI for alleged fund diversion. The probe is expected to be complete by spring 2024.
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The order barred the two from holding any director position in any listed company. The order was modified on 14th August.
