India’s markets regulator on Friday
imposed penalties totalling ₹1.48 crore ($155,168.80) on Zee Entertainment Enterprises (ZEEL), Chief
Executive Punit Goenka and Founder-Chairman Emeritus Subhash
Chandra for securities law violations.
The Securities and Exchange Board of India (SEBI) also
barred Goenka and Chandra from the securities market for one
year.
• SEBI’s investigation, which stemmed from missing title
deeds of a company property, found that the ZEEL land had been
used as security for loans taken by large shareholder-linked
entities without proper approvals.
• ZEEL’s property was deployed for the benefit of related
entities and the arrangement was not disclosed to the company’s
board, audit committee, shareholders or investors, SEBI found.
• Goenka was fined 5.8 million rupees and Chandra 6 million.
• ZEEL was fined 3 million rupees and barred from the
securities market for two months.
• ZEEL operates television channels, including Zee TV and
Zee Cinema, and online streaming platform Zee5.
• Earlier this year, ZEEL secured rights to broadcast the
2026 FIFA World Cup in India.