The headquarters of Sony Pictures Entertainment has issued a statement regarding reports about the future of the Zee-Sony merger.

The network has said it will “monitor developments that may affect the deal”.

“There have been several erroneous press reports recently speculating about the future of ZEE’s planned merger with SPNI following SEBI’s interim order against Subhash Chandra and Punit Goenka. We take very seriously the SEBI interim order and will continue to monitor developments that may affect the deal,” reads the statement.

As earlier reported by exchange4media, the Securities Appellate Tribunal (SAT) had denied interim relief to Essel Group Chairman Subhash Chandra and son Punit Goenka, CEO of Zee Entertainment Enterprises, against the Sebi order.

The market regulator has barred the duo from holding any directorial or managerial position for a year as an action for “siphoning off funds from the listed entity for their own benefit”.