The Securities Appellate Tribunal (SAT) Monday set aside a SEBI order against Zee Entertainment Enterprises Ltd (ZEEL) promoter Punit Goenka which barred him from holding key management positions in any listed entity, including four ZEE group companies.
The SAT also asked Goenka to cooperate with the Securities and Exchange Board of India (SEBI) in the investigation. The tribunal said in the event any material comes out against Goenka during the course of investigation then SEBI can adopt appropriate procedures in accordance with law.
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