Zee Ent. shares zoom 7% after Sebi rejects its settlement applications

Sebi rejected the settlement applications by Zee Entertainment Enterprises and Punit Goenka, and referred the matter for further investigation. The order also stated that the show-cause notices issued against Zee, Subhash Chandra, and Punit Goenka will be merged with the ongoing investigation. This follows the termination of Zee's deal with Sony and a significant decline in Zee's stock.