Subhash Chandra, ZEEL MD & CEO move SAT against Sebi order

Essel Group chairman Subhash Chandra and Zee Entertainment Enterprises Ltd MD and CEO Punit Goenka have moved the Securities Appellate Tribunal challenging the Sebi interim order that barred them from holding the position of a director or key managerial personnel in any listed company, sources said.

Market regulator Sebi took action against Chandra and Goenka for allegedly siphoning off funds of Zee Entertainment Enterprises Ltd (ZEEL).

They have challenged the Sebi order at Securities Appellate Tribunal (SAT) and the hearing is slated for Thursday (June 15), sources in the know of the development said.