Story thread · 7 reports / 3 sources

Zee shares tumble 12% after Sebi action against Subhash Chandra, Punit Goenka

economictimes.indiatimes.com · 8dShare

Shares of Zee Entertainment Enterprises (ZEEL) fell over 12% to Rs 101.50 on the BSE on Monday after Sebi's final order in the unauthorised pledge of immovable property case. The regulator imposed a Rs 30 lakh fine and barred the company from accessing the securities market for two months. Sebi on Friday barred ZEEL founder Subhash Chandra and CEO Punit Goenka from the securities market for one year each and imposed a total penalty of Rs 1.48 crore over the unauthorised pledge of the company's Hyderabad land to secure loans for promoter-linked Essel Group entities.Sebi said its investigation was triggered after ZEEL's statutory auditor, Deloitte Haskins & Sells LLP, reported in its FY19 audit that the title deeds of certain immovable properties were missing.The regulator said the original title deeds of ZEEL's Hyderabad land were deposited with Indiabulls Housing Finance on December 27, 2018, to create a first-ranking mortgage securing loans availed by four Essel Group companies. The e

First report: Sebi bans Zee's Subhash Chandra, Punit Goenka — economictimes.indiatimes.com, 10d