SAT denies interim relief to Subhash Chandra, Punit Goenka against Sebi order
The tribunal has listed the matter for disposal on June 19
The Securities Appellate Tribunal (SAT) has denied interim relief to Essel Group chairman Subhash Chandra and son Punit Goenka, the CEO of Zee Entertainment Enterprises against a Sebi order they were challenging. The market regulator had barred the two from holding any directorial or managerial position for a year as an action against the two for “siphoning off funds from the listed entity for their own benefit.”
With Chandra and Goenka going against the order, the SAT asked Sebi to file a reply within 48 hours. The matter has been listed for hearing on June 19.
"We think, that passing an interim order at this stage would be virtually allowing the appeals. Consequently, we think, that we should decide the appeals finally," said the tribunal said in its order.
