SEBI to challenge SAT ruling favouring Punit Goenka?

After the Securities Appellate Tribunal (SAT) cleared the way for Punit Goenka to hold a key managerial position in the upcoming ZEE-Sony merger, it now seems the Securities and Exchange Board of India (SEBI) may seek further legal action by appealing to the Supreme Court.

Economic Times reports that the ZEE board is now expediting the process to discuss Goenka’s ongoing role within the company.

SEBI had banned Chairman of Essel Group, Subhash Chandra and Goenka, from occupying any directorial or key managerial positions for a year, citing allegations of “siphoning off funds from the listed entity for their own benefit.”

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