Mumbai: The Securities and Exchange Board of India (Sebi) on Wednesday submitted before the Bombay High Court that it would not take any action for three weeks regarding the summons issued to Zee Entertainment Enterprises Subhash Chandra in an alleged fund diversion case. Chandra had filed a petition in the court on 5 March, alleging …
Mumbai: Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises Ltd, is not cooperating in an investigation into alleged diversion of funds from the media company, the Securities and Exchange Board of India (Sebi) has informed the Securities Appellate Tribunal (SAT) hearing the matter. Chandra’s legal counsel has, however, contested these allegations. Representing Sebi, senior counsel …
Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises, has alleged that Sony intentionally prevented a merger despite the Zee promoters’ offer – during extended negotiations – to have Punit Goenka step aside from the chief executive’s post. Chandra said Zee intends to sue the Japanese company for damages. The Zee founder also told Vinod Mahanta …
Before Sony India’s official withdrawal from the $ 10 billion deal with ZEEL, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for attempting to “scuttle” the merger. In his letter, Subhash Chandra alleged the Indian market regulator of “acting with a predetermined mind” and requested the finance minister to …
Zee Entertainment’s promoter Subhash Chandra wrote to Finance Minister Nirmala Sitharaman last week on January 16, a week before its $10 billion merger with Sony Pictures was terminated. The letter, accessed by CNBC-TV18 sought the Finance Minister’s intervention to “safeguard the interest of Zee Entertainment’s minority shareholders.” The letter alleges that efforts are ongoing to …
The Securities Appellate Tribunal (SAT) on Thursday questioned market regulator Sebi’s credibility on completing its investigation within a stipulated time in the Zee Entertainment Enterprises’ (ZEEL) matter. SAT was hearing Zee’s plea against Sebi’s order baring Zee Entertainment Enterprises’ Punit Goenka and Subhash Chandra from holding any key managerial positions in the company and other …
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 …
The Securities Appellate Tribunal (SAT) on Wednesday refused to provide an interim relief to Punit Goenka, former chief of Zee Entertainment Enterprises Ltd, in SEBI case, reported ET NOW. It has given time to markets regulator, SEBI, till September 4, 2023, to file a reply on the matter. The next hearing has been scheduled for …
The Ministry of Corporate Affairs (MCA) is currently examining the alleged irregularities in Zee Entertainment Enterprises, as reported by the market regulator SEBI, according to a report by ET Now. However, Zee Entertainment Enterprises has not yet been notified of any investigation by the MCA, as stated by a source quoted by news agency Reuters. …
The Securities Appellate Tribunal (SAT) granted permission for the appointment of an authorized officer by Sebi to handle the alleged fund diversion case involving Punit Goenka and Subhash Chandra, promoters of Zee Entertainment Enterprises Ltd. This decision was made due to the absence of whole-time members (WTM) within the Securities and Exchange Board of India …