Board reviewing SEBI's order : ZEEL's Chairman, R. Gopalan

In the official statement issued by the board, Gopalan also said that appropriate legal advice is being sought in order to take the next steps as required.

Following SEBI's judgement prohibiting Subhash Chandra and Punit Goenka from serving as directors or key managerial staff in any listed firm for syphoning off ZEEL fund, R. Gopalan Chairman of ZEE Entertainment Enterprises Ltd. has issued an official statement which follows as:

“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 Punit Goenka.

The board is currently in the process of reviewing the detailed order, and appropriate legal advice is being sought in order to take the next steps as required.

With a singular focus on enhancing the shareholder value year after year, the board of the company has continued to guide the management towards its strategic goals and priorities for the future.

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.

The Board recognizes the significant contribution made by Dr. Subhash Chandra as the founder of the Company and the growth and value generation centric leadership showcased by Punit Goenka. The board is confident that the Company, will continue to achieve the set goals for the future and most above, create value for all stakeholders.”