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Subhash Chandra not cooperating in Zee fund diversion probe: Sebi tells tribunal

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Subhash Chandra not cooperating in Zee fund diversion probe: Sebi tells tribunal

Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises Ltd, is reportedly not cooperating in an investigation into alleged fund diversion at the media company, according to the Securities and Exchange Board of India (Sebi). Sebi has informed the Securities Appellate Tribunal (SAT) about Chandra's lack of cooperation. Chandra's legal counsel has contested these allegations, stating that they are baseless. Sebi had previously issued an order against Chandra and Punit Goenka, barring them from holding key managerial positions in listed entities due to alleged fund diversion. The investigation has affected the proposed merger between Zee and Sony.

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