Zee case: SAT directs SEBI to appoint additional executive member

The Securities Appellate Tribunal (SAT) has executed a strategic modification of its prior ruling in the Zee case. They have proactively directed Sebi to promptly designate an additional full-fledged executive member for the upcoming hearing.

As per the latest market insights, SAT has communicated that in the event of unavailability of a whole-time member (WTM), an officer occupying a superior position in terms of grade or rank shall be authorized to preside over the proceedings with due diligence.

Earlier, SAT had adopted a bold stance by refraining from granting an interim suspension on Sebi's definitive action against Subhash Chandra and Punit Goenka.