By Aayush Khanna
Zee Media has issued a clarification, stating that it had no involvement in the trading activities of external and independent guests featured on the Zee Business Channel. These guests, referred to as “Noticees,” were individuals with whom the company had no relationship beyond their appearances on the business channel.
The clarification comes after the Securities and Exchange Board of India (SEBI) took strict action against 15 individuals, including five who appeared as guest experts on Zee Business news channel. Sebi found that these individuals had made unlawful gains amounting to Rs 7.41 crore between 1 February 2022, and 31 December 2022, by taking positions opposite to their on-air recommendations.
Despite media reports suggesting fines imposed on “Zee Business’ guest experts,” Zee Media emphasizes that these individuals were external guests, and the company had cooperated fully with Sebi’s investigation, providing necessary data.
It is important to note that SEBI’s direction to Zee Media is limited to preserving and maintaining all records related to the identified individuals and concerned shows until Sebi’s final order is issued. The regulatory action by SEBI is focused on the individuals involved in trading activities and does not implicate Zee Media itself.
This clarification underscores Zee Media’s commitment to transparency and compliance with regulatory requirements, affirming that it was not implicated in the trading activities under scrutiny by SEBI.
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