Digital
Leading with purpose creates wins for consumers, community and country: Hina Nagarajan of Diageo India
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
At the Storyboard18 DNPA Conclave 2025, Union Minister Ashwini Vaishnaw spotlighted the critical role of traditional media in an evolving digital landscape. He emphasized that such gatherings can aid the govt in formulating more effective policies for a balanced and sustainable media ecosystem.
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