SAT adjourns hearing on Zee’s plea against Sebi on fund diversion matter

The Securities Appellate Tribunal (SAT) on Tuesday adjourned a hearing on a plea filed by Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises, against the Securities and Exchange Board of India (Sebi) in the alleged fund diversion matter.

Chandra’s counsel sought more time, to which Sebi’s counsel objected. Chandra’s legal team requested a later date from the tribunal, but Sebi’s counsel asked the bench to consider this as the final extension, citing developments and allegations made by 73-year-old media baron.