Mumbai: The Ministry of Corporate Affairs (MCA), which is investigating Zee Entertainment Enterprises Ltd (ZEEL) over alleged corporate governance violations, has written to the Securities and Exchange Board of India (Sebi) seeking details on its latest findings on fund diversion that have been cited in media reports, said people aware of the matter. The ministry’s …
The Enforcement Directorate (ED) on January 24 searched the Essel Group Continental Office in Mumbai, reported ET Now citing sources. Market regulator Securities and Exchange Board of India (Sebi) is already probing Zee Entertainment and Essel Group companies. The report claims that the ED search has been going on since the afternoon. Earlier in the …
The Bombay High Court on Monday rejected World Crest Advisors LLP’s application that sought the court’s intervention to restrain YES Bank and JC Flowers Asset Reconstruction from exercising any rights with respect to their pledged shares. World Crest Advisors LLP is a promoter group entity of direct-to-home (DTH) company Dish TV India. Jawahar Goel, the …
Media baron Subhash Chandra’s Essel Group is in talks with corporate houses, real estate developers, and leading private equity players for the sale of marquee land properties and a few unlisted infrastructure assets to generate ₹1,500 crore that he is supposed to pay American PE firm JC Flowers to settle his debt obligations and take …
ZEEL MD Punit Goenka sent a letter to the employees on Monday, providing an update on the merger between ZEE Entertainment and Sony. He reassured them that the merger is in its final stages and addressed the issues faced by the promoters with Sebi. In the letter, Goenka emphasized the importance of focusing on the …
The Securities Appellate Tribunal (SAT) is expected to announce its decision on Monday, July 10, regarding the petitions filed by Subhash Chandra, the Chairman of Essel Group, and Punit Goenka, the Managing Director and CEO of ZEE Entertainment Enterprises Ltd (ZEEL), challenging the interim order by the Securities and Exchange Board of India (Sebi), as …
The Securities Appellate Tribunal (SAT) has reserved its order in the applications filed by Subhash Chandra and his son Punit Goenka, who are challenging the interim order issued by the capital market regulator. This order restricts them from holding directorship or key managerial positions in listed entities. The bench, comprising of the judicial member Tarun …
The National Company Law Tribunal (NCLT) has rejected the petition filed by IDBI Trusteeship Services, which sought to initiate Corporate Insolvency Resolution Process (CIRP) against Cyquator Media Services, an Essel Group entity, due to non-payment of debts. IDBI Trusteeship had filed the petition against Cyquator Media, citing the provisions of Section 7 of the Insolvency …
The Securities Appellate Tribunal (SAT) announced that the next hearing in the Zee merger case is scheduled for June 26, according to reports from ET Now. Last Friday, SAT denied interim relief to Essel Group chairman Subash Chandra and his son Punit Goenka after the market regulator prohibited them from holding positions as directors or …
The Securities Appellate Tribunal (SAT) has admitted an appeal filed by Subhash Chandra, the chairman of Essel Group, and Punit Goenka, the MD and CEO of Zee Entertainment Enterprises Ltd, challenging the interim order imposed by the Securities and Exchange Board of India (Sebi). This order barred them from holding director or key managerial positions …