The Securities Appellate Tribunal (SAT) on Friday postponed to September 13 the final hearing on a plea challenging a SEBI’s confirmatory order that barred Zee Entertainment Enterprises’ Punit Goenka and Subhash Chandra from holding any key positions in the company and other organisations.
After hearing rejoinders from counsels Abhishek Manu Singhvi and Navroz Seervai, representing Goenka and Chandra, SAT said it will continue the hearing on September 13.
SAT further stated that on September 14, it will hear Goenka and Chandra’s rejoinders.
In his rejoinder, Singhvi said that SEBI passed the confirmatory order without concluding the investigation and is based on mere speculation.
The market regulator had no evidence beyond the bank statements to prove the allegations of round-tripping of funds, he added.
SEBI’s confirmatory order bars Goenka and Chandra from holding any directorship or other key managerial positions in the company and other organisations.
Singhvi also said the Se
Posts in category Business Standard
Zee row: SAT defers hearing on SEBI’s confirmatory order to Sept 13 (08-09-2023)
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Gold hallmarking is a purity certification of the precious metal and was voluntary in nature till June 16, 2021, when the government decided to implement mandatory gold hallmarking in a phased manner.
Currently, a total of 343 districts are covered under mandatory hallmarking. In the first phase, launched on June 23, 2021, 256 districts were covered, while the second phase from April 4, 2022, included 32 more districts.
According to the Consumer Affairs Ministry, an order for implementation of the third phase of the mandatory hallmarking of gold jewellery and gold artefacts was notified on September 8.
The third phase of the mandatory hallmarking will cover an additional 55 new districts in 16 states and one Union territory, it said in a statement.
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