The Securities Appellate Tribunal (SAT) has overturned a ban imposed by the Securities and Exchange Board of India (SEBI) on Punit Goenka, the CEO of Zee Entertainment Enterprises. SEBI had accused Goenka and Subhash Chandra, a promoter of the company, of diverting funds and conducting bogus transactions. However, SAT has set aside the ban and directed Goenka to cooperate with SEBI's investigation. This decision could potentially allow the merger between Zee and Sony Pictures Networks India to proceed.
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