Zee Entertainment board of directors reviewing SEBI order on Subhash Chandra, Punit Goenka

New Delhi, June 13

Following the SEBI order banning Subhash Chandra and Punit Goenka from holding position of a director or key management personnel in a listed, the board of Zee Entertainment Enterprises said it 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.

R. Gopalan, Chairman of Zee Entertainment Enterprises issued a statement that 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 Subhash Chandra and Punit Goenka.

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, it said.

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 statement said.

"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", it said.