Tracking Sebi order against Zee, says Sony

MUMBAI: Sony Pictures Entertainment Inc said on Wednesday it takes the Indian capital markets regulator’s order against the founder and CEO of Zee Entertainment Enterprises “very seriously” and will monitor developments that “may affect” its merger deal.

This is Sony’s first comment after the Securities and Exchange Board of India (Sebi) banned Zee chairman emeritus Subhash Chandra Goenka and his son Punit Goenka, the MD of the company, from occupying key managerial positions in listed entities.

The Sebi order has been challenged by the Goenkas at the Securities Appellate Tribunal (SAT). If upheld by SAT, it will prohibit Punit from becoming the MD of the merged Sony-Zee entity.