Sebi Extends Relief To Zee's Subhash Chandra Till 30 April
The Securities and Exchange Board of India (SEBI) has provided assurance to the Bombay High Court that it will refrain from taking action against Subhash Chandra, Chairman of the Essel Group, until April 30, 2024, regarding the summons issued to him in connection with the funds diversion case involving Zee Entertainment Enterprise.
The extension of relief comes as a continuation of the three-week respite that SEBI had previously granted to Chandra on March 21, 2024. The assurance signifies a temporary reprieve for Chandra amidst ongoing legal proceedings related to the alleged diversion of funds within Zee Entertainment Enterprise.
SEBI's decision to delay action against Chandra provides him with additional time to address the allegations and present his case before the regulatory body and the courts.
