Bombay HC grants relief to Subash Chandra; asks him to provide documents sought by SEBI

The Bombay High Court has allowed Subhash Chandra, Chairman Emeritus, Zee Entertainment Enterprises Ltd to not respond to the summons issued by SEBI in January but has asked him to provide any information or documents sought by the market regulator in the subsequent communication in March.

Subhash Chandra had filed a writ petition against the summons dated 12th January 2024, issued by the Securities and Exchange Board of India (SEBI); stating that the summons did not comply with the provisions of the SEBI Act, contained pre-determined and conclusive allegations and were in the nature of a show-cause notice.