Zee settles case with Sebi, pays Rs 7 lakh

Mumbai: Zee Entertainment Enterprises (ZEE) has settled securities law violation with the Securities and Exchange Board of India (Sebi) by paying ₹7 lakh as settlement charges.

The regulator had conducted an examination in the shares of ZEE for period between January 1, 2019 to December 26, 2019 to ascertain any possible violation of its insider trading and takeover rules.

"SEBI in its examination report observed that Applicant (ZEE) has made delayed disclosure... to Exchanges w.r.t. to invocation of pledged shares," Sebi said in its settlement order on Wednesday.


Following this, Sebi issued a show cause notice to ZEE on July 15, 2022 alleging violation of insider trading regulations.

While the proceedings were pending, Zee Entertainment Enterprises sought to settle the case through the settlement mechanism.