Subhash Chandra and Punit Goenka, chairman and CEO respectively of Zee Entertainment Enterprises Ltd. have been banned from holding any directorial or key managerial positions by market regulator Securities and Exchange Board of India (SEBI) for siphoning off funds from the listed company for their personal benefit. In an interim order passed today (June 12),the SEBI stated, “The Noticees (Subhash Chandra and Punit Goenka) shall cease to hold the position of a director or a key managerial personnel in any listed company or its subsidiaries until further orders.”
The order is to be read with the interim order dated April 25, 2023, passed in the matter of Shirpur Gold Refinery Ltd.