Relief for Zee Entertainment’s Punit Goenka as SAT sets aside Sebi’s order

The Securities Appellate Tribunal (SAT) on Monday set aside the order by the market regulator Securities and Exchange Board of India (Sebi) against Zee Entertainment Enterprises’ promoter Punit Goenka, barring him from holding key positions in four Zee group firms and the merged entity with Sony Pictures Networks India.

With this, Goenka can now be appointed as the Managing Director (MD) of the merged entity.

In the order, Justice Tarun Agarwala directed Goenka to cooperate in the investigation while adding that if any violation is affirmed in the investigation, then the market regulator can take appropriate procedures.