Zee Entertainment's promoters move SAT challenging SEBI ban

India's Zee Group's promoters Subhash Chandra and Punit Goenka moved the Securities Appellate Tribunal (SAT) on Tuesday, challenging the markets regulator's order that banned them from holding board positions in public listed companies, sources privy to the information said.

The Securities and Exchange Board of India (SEBI) on Monday banned Chandra and Goenka for a year, saying they were actively involved in diverting company funds to the group's related entities.

The bench has posted the matter for further hearing on Thursday, the sources said.