Sony Pictures Entertainment (SPE) has released a statement on ongoing reports centred around the Securities and Exchange Board of India’s (Sebi) order against the promoters of ZEEL over allegations of fund diversions.
It said, “There have been several erroneous press reports recently speculating about the future of ZEE’s planned merger with SPNI following SEBI’s interim order against Subhash Chandra and Punit Goenka. We take very seriously the SEBI interim order and will continue to monitor developments that may affect the deal.”
With the way things stand, Sebi has banned Chandra and Goenka holding the position of director or key management personnel in any listed firm until further orders.
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The legal delays in this could impact the proposed merger between Sony and ZEE.
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