business β SAT clears Zee for fundraise, but SEBI ban stays
The Securities Appellate Tribunal (SAT) allowed Zee Entertainment to proceed with its capital raising plans on Friday. This decision involved Zee Entertainment Enterprises Limited and Punit Goenka in the case, and the relief is subject to a penalty deposit within one week. The company can now issue fully convertible warrants for a βΉ3,143-crore fundraise, with the warrant deadline extended by one week. However, SEBI's two-month market access ban remains active, barring certain uses of mutual fund investments. This ruling follows SEBI's July 31 order concerning an improper disclosure case. π°