The Securities Appellate Tribunal (SAT) has asked Sebi to reply within 48 hours to a plea filed by Essel Group Chairman Subhash Chandra and ZEEL Chief Executive Officer Punit Goenka against the order to restrain the duo from holding key managerial positions in listed entities, media networks have reported.

As per reports, Zee has told the tribunal that Sebi's order will affect the hearing before NCLT regarding the merger with Sony.

exchange4media exclusively reported on June 13 about Zee moving SAT.

The counsel had said, "Principles of natural justice haven't been followed."