New Delhi, Aug. 14 -- The Securities Appellate Tribunal (SAT) on Friday granted interim relief to Zee Entertainment Enterprises Ltd, allowing the company to move ahead with its proposed Rs.3,143 crore fundraise. However, the relief is contingent on the company depositing the full penalty imposed by the Securities and Exchange Board of India (Sebi) within one week.

While the tribunal maintained Sebi's market-access restrictions, it gave Zee operational flexibility by permitting the media group to transact in its mutual fund investments to cover day-to-day business expenses. It clarified, however, that these mutual fund holdings cannot be used for other purposes, such as paying proposed dividends.

The tribunal also extended the deadline f...