Zee resolves SEBI case by paying Rs 7 lakh in settlement

Zee Entertainment Enterprises (ZEE) has addressed a securities law violation with the Securities and Exchange Board of India (SEBI) by paying a settlement charge of Rs 7 lakh. The regulator conducted an investigation into Zee shares from January 1, 2019, to December 26, 2019, to determine any probable violations of its insider trading and other policies.

“SEBI in its examination report observed that Applicant (Zee) has made delayed disclosure to Exchanges w.r.t. invocation of pledged shares,” Sebi stated in its settlement order on Wednesday. Subsequently, on July 15, 2022, Sebi issued a show-cause notice to Zee, alleging a breach of insider trading regulations. As the proceedings were ongoing, Zee Entertainment Enterprises made an effort to resolve the matter through the settlement mechanism.