The mystery surrounding the alleged fund diversion from Zee Entertainment Enterprises (Zee) by founders Subhash Chandra and Punit Goenka has thickened with speculations of an amount multiple times higher than that cited by the ex-parte interim order passed by the Securities and Exchange Board of India (Sebi) dated June 12, 2023. While Zee shares witnessed a fresh selloff on Wednesday, news reports of accounting fraud left investors guessing about the hole in the media broadcaster's books. An order by the Securities Appellate Tribunal (SAT) in October 2023 had clearly hinted that Sebi's investigation had found a deeper rout.
Rise in input costs, inventory write-off, and pricing pressures led to a drop in gross margins. Higher competitive pressures led to cuts in operating profit margins and earnings estimates for FY24 and FY25. Most brokerages have a 'neutral' or a 'reduce' rating on the stock on account of valuations.
'We do not see people getting reduced, but because of automation, we will do more work.'
'Given the inherent volatility, investors should take at least a three to five-year view.'
He claimed even the media is debarred from entering the secretariat and reaching out to the chief minister and thus changes need to be made in the governance model in Odisha.
To take the 'Idea to Enterprise' journey, you need to be open about your idea and articulate it to potential customers, existing entrepreneurs, experts in your industry and well-wishers.
Sushma Swaraj urged the SAARC nations to focus on culture, commerce and connectivity.
'We used to give these boxers a hammering in the ring and now they are teaching youngsters how to defend. Come on man!' 'People like Akhil Kumar and Jitender Kumar were among the top boxers in the world, but instead of choosing them to train young boxers they are picking people who are yes men.'
The three accused were taken to the Police Line by the special investigation team headed by IPS officer Monika Bhardwaj for a joint interrogation.
The bank has one of the highest current account savings account share, stable credit quality, robust credit growth, adequate capital and low cost-to-income ratio, said PNB chief Sunil Mehta.
Tension mounted in the hills of Manipur after the May 4 video surfaced on Wednesday showing two women from one of the warring communities being paraded naked by a group of men from the other side.
Twitter handles of Gandhi and several Congress leaders have been locked by the US firm for posting pictures of the family of the nine-year-old Dalit rape and murder victim last week in the national capital.
The visit by an official delegation from Kerala to the Bharatiya Janata Party-ruled Gujarat has come under criticism from opposition Congress and Muslim League in Kerala.
Banerjee said that IAS and IPS officers of the country are in solidarity with the former West Bengal chief secretary, as it is the "battle of every bureaucrat".
Ahead of his side's Indian Premier League match against Mumbai Indians, Kolkata Knight Riders assistant coach Abhishek Nayar hailed skipper Shreyas Iyer for his mental strength and positive approach to life.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
The criminal case relates to the alleged assault on Prakash during a meeting at Kejriwal's official residence on February 19, 2018 and besides the chief minister and his deputy, 11 AAP MLAs were also made accused in the case.
Asked about action taken against those spreading fake news, and publishers of anti-national material, he said more than 60 accounts have been blocked including those on YouTube, Twitter, Facebook and Instagram.
Meet Chhotu Sharma -- the perfect example of what happens when determination meets hard work.
The Delhi high court on Wednesday allowed Chinese smartphone maker Vivo to operate its various bank accounts frozen by the Enforcement Directorate in connection with a money-laundering probe subject to furnishing of a bank guarantee of Rs 950 crore within a week with the agency. Justice Yashwant Varma also directed the company to give details to ED about its remittances and issued notice to the investigating agency on Vivo's plea seeking quashing of the order freezing its various bank accounts. ED contended that presently the proceeds of crime have been quantified to Rs 1200 crore.
IBC has been revolutionary in many ways and is a formidable instrument for stress resolution. And despite the room for improvement, the overall effectiveness of IBC in the distress space is unmatched, notes Saloni Kothari.
Do you have questions about CAT, XAT, CMAT or CET? rediffGURU Patrick Dsouza will answer them.
What humans have -- that no machine can mimic -- is the ability to foster positive and authentic relationships with coworkers, managers and clients, says Job Van Der Voort, CEO and co-founder of Remote.
The bench noted even the high court has said in its judgement that 80 per cent of the work related to the survey has been completed.
Cyclone Biparjoy has left a trail of destruction in Gujarat's Kutch and Saurashtra regions as some 1,000 villages are still without power with hundreds of electric poles getting damaged, while several coastal villages were flooded due to heavy rains and incoming seawater, officials said on Friday, a day after the storm made landfall.
Two other teachers who were the centre superintendents were also placed under suspension.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
Following the 30-day moratorium placed on Yes Bank, asset management companies have asked their clients, who have bank accounts with the troubled lender, to furnish details of alternate accounts for receiving redemption payouts. Redemption is the return of an investor's principal on a fixed income security such as a bond, mutual fund or preferred stock.
Alleging that the BJP-led Centre was pursuing 'vendetta politics', West Bengal Chief Minister Mamata Banerjee appealed to the Union government to withdraw its order recalling Chief Secretary Alapan Bandopadhyay and allow the senior bureaucrat to work for people amid the COVID-19 crisis.
Mehta said but did not elaborate on the consequences the contentious exercise could possibly have.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
South Indian cinema's biggest superstars rock the show on OTT. Sukanya Verma gives us some recommendations for the week.
Markets regulator Sebi on Monday barred Essel Group chairman Subhash Chandra and Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka from holding the position of a director or key managerial personnel in any listed company for siphoning off funds of the media firm. The case pertains to Chandra, who was also the chairman of ZEEL during the alleged violation, and Goenka having abused their position as directors or KMPs of a listed company for siphoning off funds for their own benefit. In its interim order, Sebi noted that Chandra and Goenka alienated the assets of ZEEL and other listed companies of Essel Group for the benefit of associate entities, which are owned and controlled by them.
Prakash was allegedly assaulted by Aam Aadmi Party MLAs during a meeting at the chief minister's residence in the evening of February 19.
Modi said New Delhi has emphasised on dialogue and diplomacy along with restraint to deal with the situation arising out of the Hamas-Israel conflict.
Post all your college and career-related questions right here on rediffGURUS and let our experts answer.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
What gift should you buy your Significant Other for V-Day? Kshamaya Daniel offers a special gift-giving strategy
The Supreme Court on Friday asked what was the harm if a person provided the details of caste or sub-caste during the Bihar caste survey when an individual's data was not going to be published by the state.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
