Leading Industrialist & former lawmaker accuses SEBI chief of hurting investors
Edited By WION Video Desk
Published: Sep 02, 2024, 22:40 IST | Updated: Sep 02, 2024, 22:40 IST
India's leading industrialist and former lawmaker, Dr Subhash Chandra, who is also the chairman emeritus of Zee Entertainment Enterprises, has levelled serious charges against Madhabi Puri Buch--the chairperson of the securities and exchange board. He stated that under her stewardship, SEBI had not been acting in the interest of investors of Zee Entertainment. Referring to the recent efforts towards a Zee Sony merger, the former Rajya Sabha member said the merger had been progressing well getting even the SEBI's approval. But despite this, SEBI instructed BSE and NSE to intervene in NCLT proceedings and scuttle the merger, thereby spooking Sony. Chandra said ultimately Sony terminated the merger which resulted in huge erosion of wealth of the minority shareholders..
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