Zee's Independent Investigation Committee Reports On SEBI's Allegations

Zee's Independent Investigation Committee Reports On SEBI's Allegations

Advises settling pending adjudication proceedings with the market regulator

An independent investigation committee constituted by the Board of Directors of Zee Entertainment Enterprises Ltd has reported that it did not find anything adverse in its operations as alleged by the Securities and Exchange Board of India (SEBI) and other entities.

Early this year, an independent advisory committee was formed by the Board to review allegations levelled by the market regulator.

It was chaired by Justice Satish Chandra, former judge of Allahabad High Court, two independent directors of Zee and chairman of the Nomination and Remuneration Committee.

Zee's statement read, "The Committee has reviewed the matter under adjudication with the SEBI, and has stated that no further action is required by the company."

Meanwhile, in the interest of the shareholders and all stakeholders of the company, the Board advised the company to settle the pending adjudication proceedings with SEBI.