Why SEBI barred Subhash Chandra, ZEEL CEO Punit Goenka for a year and slapped penalty
The Securities and Exchange Board of India (SEBI) has barred Zee Entertainment Enterprises Ltd (ZEEL) founder Subhash Chandra and CEO Punit Goenka from the securities market for one year due to unauthorized pledging of company property. SEBI's investigation revealed that ZEEL's Hyderabad land was used as collateral for loans without board approval, leading to penalties of ₹60 lakh for Chandra, ₹58 lakh for Goenka, and ₹30 lakh for ZEEL. Additionally, ZEEL faces a two-month restriction on accessing the securities market.