Zee-Sony merger will go through even if I'm not the CEO: Punit Goenka
In interviews with leading news publications, the Managing Director and CEO of ZEEL has said the merger formalities are likely to be completed by September
The Zee-Sony merger will go through whether or not he remains the CEO, asserted Punit Goenka in interviews to media publications.
Goenka, the Managing Director and CEO of ZEEL, has told Economic Times that during his frequent interactions with the Sony leadership he did not get any indications of a "wavering".
He has also said that he hopes the merger formalities will be completed by September.
"The ZEE and Sony teams are talking to each other on a daily basis as we are in an advanced stage of integration," Goenka told ET.
Asked what would he do if there was no relief from the courts in the Sebi order, Goenka told Mint that he would "follow the law of the land".
Meanwhile, Zee has paid Rs 7 lakh as settlement charges to Sebi for alleged securities law violation, media networks have reported.
Also, the Securities Appellate Tribunal (SAT) has adjourned the hearing of a plea by Subhash Chandra and Goenka against the Sebi order to June 26.
On June 13, e4m reported that market regulator Sebi has barred Chandra and Goenka from holding any directorial or key managerial position for a year. The action was taken for “siphoning off funds from the listed entity for their own benefit”.
