Zee seeks clarity on promoter fundraise
Mumbai: Zee Entertainment Enterprises has approached the Securities and Exchange Board of India (SEBI) seeking clarity on its proposed fundraise from the promoter group led by Subhash Chandra, in light of the market regulator’s order barring the company and its promoters from accessing the securities market for two months and 12 months, respectively.
Apart from approaching SEBI for clarification, the company has also moved the Securities Appellate Tribunal (SAT), challenging the regulator’s July 31 order, which imposed a cumulative penalty of ₹1.48 crore on Zee, Chandra and Goenka, besides barring them from the securities market.
