Zee Entertainment seeks Sebi relief to unlock ₹1,200 crore mutual fund investments

Zee Entertainment Enterprises Ltd on Wednesday asked the Securities Appellate Tribunal (SAT) to lift the Securities and Exchange Board of India’s (Sebi’s) market-access ban, saying it needs to sell about ₹1,200 crore of liquid mutual fund investments to fund day-to-day operations.

Responding to the tribunal’s question on why the company wanted to sell the investments, Zee’s counsel said the funds would be used mainly for short-term business requirements: “For making films, paying people, creditors.”