Tribunal sets final hearing date of Punit Goenka's appeal on September 8

livemint.com:

Moneycontrol, the case has been scheduled for a conclusive hearing on September 8. Punit Goenka, the former CEO of Zee Entertainment Enterprises Ltd (ZEEL), has challenged a Sebi ruling that prohibits him from occupying directorial or significant managerial roles within the company and other entities. The appellate tribunal further said that it is not satisfied with the amount of time taken by Sebi for investigation.

"Sebi can’t keep going on with its investigation," it said. Also Read: Punit Goenka moves SAT against Sebi's 14 Aug order barring him from boards of Zee cos Earlier on 14 August, Sebi in its confirmatory order restrained the duo from holding any key managerial positions in Zee Entertainment Enterprises, Zee Media Corporation, Zee Studios, and Zee Akaash News. Prior to this, Sebi in its 12 June order, barred them from holding key positions in an alleged funds diversion case.

The order said Goenka and Chandra were involved in schemes and transactions through which vast amounts of public money belonging to Zee Entertainment Enterprises Ltd were diverted to private entities owned and controlled by these people. Also Read: Zee-Sony case: Punit Goenka moves SAT against Sebi order Aggrieved by the regulator’s order, Goenka approached SAT. The tribunal, however, in its verdict refused to interfere with Sebi’s order and asked it to pass a final order in the matter after giving the duo a detailed hearing.