Sebi won't take action on summons to Subhash Chandra for 3 weeks: HC told
Sebi had issued the summons to the Chairman Emeritus of Zee Entertainment Enterprises in an alleged fund diversions case
In a relief to the Chairman Emeritus of Zee Entertainment Enterprises, Subhash Chandra, Sebi has submitted before the Bombay High Court that it will not be taking any action for three weeks on the summons issued to him in an alleged fund diversions case.
Subhash Chandra had moved court alleging that Sebi's summons "indicated they had already been proved conclusively".
As per media reports, the division bench has asked Sebi to file its reply in two weeks. The matter has been adjourned for three weeks.
Sebi had earlier accused ZEEL of a Rs 200-crore fund diversion. ZEEL had said the claims were incorrect and false.
