Zee Entertainment Plummets as SEBI Bans Subhash Chandra and Punit Goenka from Markets Over Land Pledge Misuse
Zee Entertainment Enterprises Ltd (ZEEL) shares witnessed a sharp decline following the announcement that regulators have barred the company, along with its leadership, from the securities market for specified periods. The stock fell by 10.3% at 11:25 am on August 3, trading at Rs 102.69 apiece, amid the repercussions of the SEBI ruling.The regulatory action follows a comprehensive final order, which mandates that Subhash Chandra, Chairman Emeritus, and Punit Goenka, MD and CEO, are barred from the securities market for one year. Furthermore, ZEEL has also been prohibited from trading in the securities market by SEBI for two...