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SAT to hear plea of Chandra, Goenka on June 26
The Morning Standard
|June 20, 2023
THE Securities Appellate Tribunal (SAT) on Monday said that it would hear plea of Zee Entertainment Enterprises managing director and chief executive Punit Goenka and Essel Group chairman Subhash Chandra challenging the interim order of the Securities and Exchange Board of India (Sebi) that bars them from holding any key positions in any listed company
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Senior Advocate Janak Dwarkadas appearing on behalf of Goenka asked for a stay on Sebi's order and said that the regulator has no evidence beyond bank statements to prove allegations of round-tripping of funds, and it cannot pass ex parte order. There is also no urgency to pass such an order as there is no market manipulation involved. It did not even provide Chandra and Goenka with an opportunity to be heard, he added.
Dit verhaal komt uit de June 20, 2023-editie van The Morning Standard.
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