Zee promoter moves SAT against Sebi order again

Zee promoter Punit Goenkaon Friday filed an appeal for the second time against Sebi’s decision barring him from occupying the MD’s office at the company, pending investigation by the regulator over alleged fund diversion. The Securities and Appellate Tribunal had refused Punit’s first appeal in July. The merger of Zee &Sony has been delayed because of Punit’s legal issues.

Punit’s father and Zee founder Subhash Chandra Goenka, who too was barred by Sebi from holding the director’s position in the media and entertainment company, didn’t file an appeal with SAT on Friday. The regulator’s June order had banned the Goenkas from occupying the director’s seat in any listed entity.