Zee, Goenka Move SAT Against SEBI Market-access Ban

The tribunal has listed the matter for hearing on Wednesday after the appellants sought an urgent hearing and interim relief on Monday. The appellants have sought a stay on the market-access restrictions pending the final hearing of their appeals. They have also sought relief to proceed with Zee's ₹3,143.5 crore preferential issue of fully convertible warrants to promoter group entity Sunbright Mauritius Investments.

SEBI, in its July 31 order, barred Zee from accessing the securities market for two months. It also restrained Goenka and promoter Subhash Chandra from accessing the market for 12 months each. The regulator imposed penalties of ₹30 lakh on Zee, ₹58 lakh on Goenka and ₹60 lakh on Chandra. The total penalty of ₹1.48 crore has to be paid within 45 days.