Subhash Chandra challenges Sebi ban on holding directorships

Subhash Chandra, Chairman Emeritus of Zee Entertainment Enterprises, has reportedly appealed to the Securities Appellate Tribunal (SAT) against a Sebi order barring him from holding directorships in listed companies.

Sebi had previously prohibited both Chandra and Zee MD & CEO Punit Goenka from holding key managerial positions for allegedly diverting funds from the company.

Chandra's legal team argues that a judgment in Goenka's appeal to SAT already applies to him, making the separate order against him unnecessary.

Additionally, they claim the Sebi order unfairly targets Chandra and companies he's associated with.
Sebi must file its response to the appeal before a further hearing scheduled for March 8.