Mumbai: ZEE Entertainment Enterprises Ltd. chairman R Gopalan has issued an official statement regarding SEBI order that has passed an interim order against Essel group chief Subhash Chandra and ZEE Entertainment Enterprises Ltd. managing director & CEO Punit Goenka. The order states that they cease to hold any directorial positions in any of the listed companies or its subsidiaries until further orders.

The statement said, “The Board of Directors of Zee Entertainment Enterprises Ltd. (ZEEL) has noted the interim ex-parte order issued by the Securities and Exchange Board of India (SEBI), with respect to Dr. Subhash Chandra and Mr. Punit Goenka.

The Board is currently in the process of reviewing the detailed order, and appropriate legal advice is being sought in order to take the next steps as required.

With a singular focus on enhancing the shareholder value year after year, the Board of the Company has continued to guide the management towards its strategic goals and priorities for the future. All the appropriate steps will be actioned as necessary, in order to ensure that the interest of the Company and all its valuable shareholders is kept at the forefront.

The Board recognises the significant contribution made by Dr. Subhash Chandra as the founder of the Company and the growth and value generation centric leadership showcased by Mr. Punit Goenka. The Board is confident that the Company will continue to achieve the set goals for the future and most above, create value for all stakeholders.”