Digital
Online gaming in India is among the world’s most vibrant, says MoS I&B Dr L Murugan at Storyboard18 DES 2025
SEBI says 'no action' against Zee's Subhash Chandra until April 30
Chandra has been asked by a bench led by Justice G.S. Kulkarni and Justice Firdosh Pooniwala to file a rejoinder.
Earlier, the Bombay High Court had granted SEBI two weeks to respond to Chandra's petition.
The Securities and Exchange Board of India (SEBI) on Wednesday told the Bombay High Court that it will not be taking any action against the summons issued to Subhash Chandra, chairman emeritus of ZEEL in the alleged funds diversion case until April 30.
Chandra has been asked by a bench led by Justice G.S. Kulkarni and Justice Firdosh Pooniwala to file a rejoinder.
Earlier, following a petition filed by Chandra, challenging the nature of SEBI's summons, the market regulator had agreed to refrain from taking any action against Chandra for a three-week period, as per the court's directive.
The Bombay High Court had granted SEBI two weeks to respond to Chandra's petition.
The order was a temporary halt in legal proceedings and came as a respite for Chandra amidst the ongoing dispute.
Additionally, SEBI has also said that they might issue a corrigendum addressing the concerns raised by Chandra regarding the summons.
“We keep all the contentions in that regard expressly open,” SEBI said in their undertaking.
SEBI issued multiple summons to Chandra earlier this year.
SPOTLIGHT
As India eyes global leadership in media, entertainment and gaming, Storyboard18's Digital Entertainment Summit, set to take place on June 27 in the capital, will spotlight the bold strategies, policy pathways and creative innovations shaping the future of the industry.
Read MoreIN PHOTOS: At Global Pioneers Summit, visionaries chart the future of business and creativity
From the chiefs of Nestle, Diageo, Colgate, PepsiCo, Zetwerk and CRED to AI visionaries, marketing mavens, top creators, ad legends and leading global agencies' CEOs, the brightest minds converged at the Storyboard18 Global Pioneers Summit for an action-packed day of meaningful dialogues on creativity, commerce and culture.