Economy
SEBI Bans Zee Executives Subhash Chandra and Punit Goenka
Bar and Bench1h
THE BRIEF
1
SEBI has barred former Zee Entertainment chairman Subhash Chandra and former CEO Punit Goenka from the securities market for one year for unauthorized asset pledging.
2
The regulator found that ZEEL's Hyderabad land was used to secure ₹726 crore in loans for promoter-linked entities without board approval or proper disclosure.
3
In addition to the market ban, SEBI imposed penalties of ₹60 lakh on Chandra and ₹58 lakh on Goenka, to be paid within 45 days.