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R Gopalan, Chairman of Zee Entertainment Enterprises, has issued a statement on SEBI’s order to bar Punit Goenka and Subhash Chandra from taking up key management roles.
Gopalan said, “The Board of Directors of Zee Entertainment Enterprises Ltd (ZEEL) has noted the interim ex-parte order issued by the Securities and Exchange Board of India (SEBI), with respect to Dr. Subhash Chandra and Mr. Punit Goenka.”
The Board was in the process of reviewing the detailed order, and appropriate legal advice was being sought in order to take the next steps as required.
According to Gopalan, with the singular focus on enhancing shareholder value year-after-year, the board has continued to guide the management towards its strategic goals and priorities for the future.
Also read: Boardroom. InGovern raises concerns over Punit Goenka’s appointment as member of Zee Audit Committee
“All the appropriate steps will be actioned as necessary, in order to ensure that the interest of the company and all its valuable shareholders is kept at the forefront,” he added.
However, the Zee management remained silent on the status of the Zee Sony merger
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