India’s Zee Group’s promoters Subhash Chandra and Punit Goenka moved the Securities Appellate Tribunal (SAT) on Tuesday, difficult the markets regulator’s order that banned them from holding board positions in public listed firms, sources aware of the knowledge stated.

The Securities and Exchange Board of India (SEBI) on Monday banned Chandra and Goenka for a 12 months, saying they had been actively concerned in diverting firm funds to the group’s associated entities.

The bench has posted the matter for additional listening to on Thursday, the sources stated.