SAT reserves decision on Punit Goenka’s appeal against Sebi order

The Securities Appellate Tribunal (SAT) on Wednesday reserved its order in an appeal filed by Punit Goenka, the promoter of Zee Entertainment Enterprises, against the market regulator’s order barring him from holding key positions in four Zee firms, including the merged entity with Sony Pictures.

In a confirmatory order issued in August, the Securities and Exchange Board of India (Sebi) stated that it would complete the investigation within eight months into the alleged siphoning of funds and money circulation through related entities.