Story thread · 2 reports / 1 sources

Zee Entertainment shares rally 8% after SAT grants interim relief in Sebi order

economictimes.indiatimes.com · 2hShare

Shares of Zee Entertainment Enterprises (ZEEL) rallied as much as 8% to a day’s high of Rs 105 on the BSE on Friday after the Securities Appellate Tribunal (SAT) granted interim relief to the company in its case against the Securities and Exchange Board of India (SEBI).SAT stayed the SEBI order against Zee Entertainment and permitted the company to go ahead with its proposed Rs 3,143 crore preferential warrant issue to promoters. The tribunal also allowed ZEE to use its mutual fund units for dividend distribution. The relief is subject to the company depositing the penalty imposed by SEBI.The tribunal had on Wednesday reserved its order on interim relief pleas filed by Zee Entertainment and CEO Punit Goenka against SEBI’s July 31 order, which barred them from accessing the securities market.The SEBI action stems from title documents related to a Hyderabad property owned by ZEEL. The regulator alleged that the title deeds were provided to Indiabulls Housing Finance as security for loans

First report: SAT reserves order on Zee interim relief plea — economictimes.indiatimes.com, 1d