Brand Makers
Priya Nair appointed new CEO and MD of Hindustan Unilever, replaces Rohit Jawa
SAT reverses SEBI's ban on Punit Goenka from boardrooms
Experts anticipate that this development will accelerate the Zee-Sony merger proceedings.
On August 14, shortly after the NCLT (National Company Law Tribunal) approved the Zee-Sony merger, SEBI issued an order barring Zee promoters Punit Goenka and Subhash Chandra from taking on significant management positions within Zee companies or the newly merged entity with Sony. SEBI's investigation into the matter as per the order is expected to be conducted within 8 months.
On Monday, the Securities Appellate Tribunal overturned SEBI's (Securities and Exchange Board of India) decision to prohibit Zee Entertainment's MD and CEO, Punit Goenka, from holding any managerial positions in listed companies for a year.
As per sources close to development, the impugned order is squashed as related to the appellant and cannot be sustained. The ad interim order and confirmatory order restraining the appellant as the MD and CEO is set aside and the appeal is allowed. Appellant will cooperate in investigation. In the event if something material comes up during the investigation, then appropriate procedures can be adopted by SEBI in accordance with law.
"We also make it clear that any observation made in this order is prima facie observation and will not influence the investigation nor will it be utilised by either of the parties," said the order.
SPOTLIGHT
The Storyboard18 Digital Entertainment Summit (DES) unpacked India's strategy for leading the digital entertainment economy, with top policymakers where they putlined how talent, technology, and governance would fuel future-ready growth.
Read MoreIn Photos: At DES 2025, India charts ambitious course for digital entertainment leadership
At the Storyboard18 Digital Entertainment Summit in New Delhi, policymakers and industry leaders outlined how talent, technology, and governance will drive India’s push to dominate the global entertainment economy.