SEBI Order Set Aside: Relief for Zee Promoter in Sony-Zee Merger

Published On: October 31, 2023 - The Securities Appellate Tribunal (SAT) gives a clean chit to Zee promoter Punit Goenka in the latest development in the Zee-Sony merger saga. As a result, Goenka can be reinstated as the Managing Director (MD) of the merged entity. Through its decision, SAT has sidelined the order of the market regulator, SEBI, that came out on August 14. In its order, SEBI had barred Goenka from holding key managerial positions in group companies. The Zee-Sony deal is pending since December 2021 as Goenka was to be reinstated as the MD of the merged entity. Join News9's Shweta Kothari, Kartik Malhotra, and Shriram Subramaniam, founder and MD, Ingovern Research Services for more details on this story.