Zee <a href="https://comicvibe.com/koreas-market-volatility-becomes-tv-entertainment/” title=”Korea’s market volatility becomes TV entertainment”>Entertainment, Punit Goenka move SAT against SEBI market-access bar; seek urgent interim relief
Zee Entertainment, Punit Goenka move SAT against SEBI market-access bar; seek interim relief
SEBI, in its order of July 31, had barred ZEEL from accessing the securities market for two months, while CEO Punit Goenka and promoter Subhash Chandra were restrained from accessing the market for 12 months each
Brajesh Kumar
August 10, 2026 / 11:30 IST
Zee Entertainment, Punit Goenka move SAT against SEBI market-access bar; seek urgent interim relief
- ZEEL & Punit Goenka appeal SEBI ban to SAT.
- SEBI barred them from markets for 2 months.
- Ban due to alleged unauthorised property use.
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Zee Entertainment Enterprises Ltd (ZEEL) and Punit Goenka have moved the Securities Appellate Tribunal (SAT) against a Securities and Exchange Board of India (SEBI) order barring them from accessing the securities market.
SAT, on Monday, posted the matter for hearing on Wednesday after counsel appearing for Zee Entertainment sought an urgent hearing and interim relief.
“I have been barred from accessing the securities market for two months,” counsel appearing for Zee Entertainment told the tribunal, requesting that the matter be taken up urgently.
SEBI, in its order of July 31, had barred ZEEL from accessing the securities market for two months, while CEO Punit Goenka and promoter Subhash Chandra were restrained from accessing the market for 12 months each. The regulator also imposed monetary penalties of Rs 30 lakh on ZEEL, Rs 58 lakh on Goenka and Rs 60 lakh on Chandra. The penalties, totalling Rs 1.48 crore, were directed to be paid within 45 days.
The regulatory action relates to the alleged unauthorised use and pledge of ZEEL’s property in Hyderabad’s Jubilee Hills as security for loans taken by four Essel Group entities from Indiabulls Housing Finance Ltd (IHFL).
According to SEBI’s findings, the property was used to secure loans worth around Rs 726 crore. The regulator had noted that the title deeds of the property were deposited on December 27, 2018, and were released on June 1, 2020, after repayment of around Rs 225 crore.
SEBI had also flagged the absence of necessary approvals from ZEEL’s Audit Committee, Board and shareholders for the transaction. The regulator alleged that the company failed to make adequate disclosures relating to the pledge, the related-party transaction, contingent liability and other developments linked to the property.
The proceedings also covered disclosures relating to litigation before the Delhi High Court, a non-disposal undertaking concerning the property and the subsequent release of the title deeds.
The latest appeal before SAT is the next legal step by ZEEL and its promoters against SEBI’s order. The tribunal is scheduled to hear the matter on Wednesday, when the company is expected to press for interim relief from the market-access restrictions.
Interestingly, SEBI order also came on the same day that ZEEL shareholders approved the company’s proposed plan at an extraordinary general meeting (EGM), making the timing significant. The shareholder approval had raised hopes around the company’s prospects and its ability to move ahead with its strategic plans. The regulatory action, however, came as a setback on the very day shareholders backed the proposal, with the market-access restrictions on the company and its promoters adding uncertainty to the road ahead.
Brajesh Kumar is Associate Editor at Moneycontrol with over two decades of experience in financial journalism. He primarily covers capital markets, with a strong focus on SEBI and regulatory developments. Interest in tax, healthcare, and pharmaceutical-related issues. Previously, he has worked with Zee Business, CNBC Awaaz, and News18 India.
X( (Twitter): @BrajeshKMji
first published: Aug 10, 2026 11:29 am
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