Media mogul Subhash Chandra and the chief executive officer (CEO) of his merger-bound firm Zee Entertainment Enterprises Ltd, Punit Goenka, are gearing up to challenge an interim directive of the Securities and Exchange Board of India (Sebi).
The Sebi directive restrains the duo from holding directorship positions in any publicly listed firm, over allegations of fund diversion.
A petition against Sebi’s 14 August order is expected to be filed with the Securities Appellate Tribunal (SAT) either on 17 or 18 August, according to two people, seeking anonymity.
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