Subhash Chandra challenges SEBI order with SAT
ZEE Entertainment Enterprises Limited founder Subhash Chandra has moved the Securities Appellate Tribunal (SAT) over Securities & Exchange Board of India’s order prohibiting him from holding directorships in any listed entities.
The hearing is expected to take place on 8th March after SAT requested SEBI to submit its response. Furthermore, Sebi attorney Darius Khambata claimed that Chandra is “not cooperating” in a probe into the alleged diversion of cash from the media company to the promoter-linked firms.
He was cited in Economic Times saying, “Sebi has been writing to him, giving him summons, and seeking information and documents,” said Khambata. “We will put this on record that he (Chandra) has ‘not been cooperating.”
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In August 2023, SEBI prohibited Chandra and his son Punit Goenka from being directors or holding senior positions at any listed business.
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