ZEEL board reviews Sebi order over barring of Subhash Chandra & Punit Goenka

Azha Khan



R Gopalan, Chairman, ZEE Entertainment Enterprises Ltd, has released a statement after a Sebi order that bars Chairman of the Essel Group Subhash Chandra and Chief Executive Officer (CEO) of ZEE Entertainment Enterprises (ZEEL) Punit Goenka from holding any directorial or key managerial position for a year.

The statement read, “The Board of Directors of ZEE Entertainment Enterprises Ltd. (ZEEL) has noted the interim ex-parte order issued by the Securities and Exchange Board of India (SEBI), with respect to Dr. Subhash Chandra and Mr. Punit Goenka.

The Board is currently in the process of reviewing the detailed order, and appropriate legal advice is being sought in order to take the next steps as required.

With a singular focus on enhancing the shareholder value year after year, the Board of the Company has continued to guide the management towards its strategic goals and priorities for the future.

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All the appropriate steps will be actioned as necessary, in order to ensure that the interest of the Company and all its valuable shareholders is kept at the forefront.

The Board recognizes the significant contribution made by Dr. Subhash Chandra as the founder of the Company and the growth and value generation centric leadership showcased by Mr. Punit Goenka. The Board is confident that the Company, will continue to achieve the set goals for the future and most above, create value for all stakeholders”