Seeking legal advise on SEBI order in land pledge case, no bearing on ongoing fundraising: Zee
New Delhi, Zee Entertainment Enterprises Ltd (ZEEL) on Sunday said it is seeking legal advice on the order passed by market regulator Sebi barring the company from the securities market for two months and its Chairman Emeritus Subhash Chandra and Managing Director and CEO Punit Goenka for one year in connection with the Hyderabad land pledge case.
The company, however, asserted that the SEBI’s order has no direct bearing on its ongoing Rs 2,300-crore fundraising exercise and it will take all necessary steps to complete the proposed capital raise.
ZEEL may challenge the Sebi order before the Securities Appellate Tribunal (SAT), a quasi-judicial body, which has appellate jurisdiction to hear appeals against Sebi orders.
