Mumbai, Aug. 1 -- The Securities and Exchange Board of India (SEBI) has issued an order barring Zee Entertainment Enterprises Ltd (ZEEL) founder and chairman emeritus Subhash Chandra as well as ZEEL CEO Punit Goenka from participating in the capital market for a year.
The capital market regulator has also imposed penalties of Rs 60 lakh on Subhash Chandra, Rs 58 lakh on Punit Goenka and Rs 30 lakh on ZEEL.
SEBI issued its final order after an investigation into irregularities involving missing title deeds of land parcels owned by ZEEL.
According to the SEBI's final order, in 2018, land parcels owned by ZEEL in Hyderabad were illegally used as collateral to avail loans for promoter Essel Group-linked private companies, without the knowled...