in5points
BusinessMoneycontrol

SEBI bars Punit Goenka, Subhash Chandra for a year over unauthorised mortgage of ZEEL property

in5points

  1. SEBI has barred Punit Goenka and Subhash Chandra for one year over unauthorized mortgage of ZEEL property.

  2. The action relates to the mortgage of ZEEL's Hyderabad land as additional security for loans worth Rs 726 crore.

  3. The loans were availed by four Essel Group entities without approval from ZEEL's board or shareholders.

  4. The ban is part of SEBI's final order in the matter.

4h ago · original ↗