The Securities Appellate Tribunal (SAT) has set aside the Securities and Exchange Board of India’s (Sebi) order against Zee Entertainment Enterprises’ promoter Punit Goenka. Sebi’s order had barred Goenka from holding key positions in four Zee group firms and the merged entity with Sony Pictures Networks India. The decision by SAT enables Goenka to be appointed as the Managing Director of the merged entity. SAT directed Goenka to cooperate in the investigation, with Sebi having the authority to take appropriate measures if any violation is confirmed during the investigation. The case involves alleged fund siphoning and money circulation through related entities.