business ⚖️ ZEEL and Punit Goenka challenge SEBI's ban
Zee Entertainment Enterprises Ltd (ZEEL) and CEO Punit Goenka have challenged a SEBI order in the Securities Appellate Tribunal (SAT). This action relates to an improper disclosure case concerning a land parcel in Hyderabad. SEBI found that ZEEL secretly used this land parcel to secure loans for promoter-linked entities. This was done without board approval or proper disclosure, according to SEBI's finding. The parties are now pursuing their appeal against the market access ban. ⚖️