Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
The Essel Group on Monday rebutted news reports that it is setting up parallel cricket boards across different countries in collaboration with Ten Sports Network but said it is now geared up to enter the sports business at a global level, focusing on cricket.
'We should become an all-encompassing entertainment and information destination," says chairman Subhash Chandra, who monitors the group on a monthly basis, leaving the day-to-day operations to the chief executive officers.
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
ICC confirmed it was investigating the registration of company names which it regarded as of 'concern to the sport of cricket'.
Without mentioning the rebel Indian Cricket League, BCCI president Sharad Pawar, in his annual report, blamed India's World Cup debacle for the launch of the ICL.
The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
Essel Group has confirmed its plans to set up a rival Twenty20 cricket league.
Pakistan Cricket Board chairman Shaharyar Khan has admitted that the ICC and its member boards are worried.
Zee Group is India's second-largest media and entertainment firm.
The battle between BCCI's IPL and Essel-backed ICL threatens to shake up the game's biggest global market.
His exit has created a benchmark of sorts for how entrepreneurs and businesses should deal with debt crises. Unlike many other Indian businessmen, he hasn't fled, tried to hang on to the business by any means or wrangle out of the debt by using his closeness to the current government. It is so very rare for Indian media businesses to grow out of their founding family's shadow, however, benevolent it may be.
Puneet Goenka's ability to stay calm is probably what helped Zee rise from a down-in-the-dumps broadcaster into one of the largest, steadiest and most profitable media companies in India, reports Vanita Kohli-Khandekar.
Over the past few months, Chandra, whose family also owns Essel, a leading packaging company for consumer products, has bought a massage clinic chain, launched an ayurvedic skin and health products brand and rejigged his US TV channel into a health platform.
"We plan to open another 50,000 exclusive outlets in rural areas by next year under the brand name 'ItzCash Point'and 'ItzCash World', besides opening franchisee network up to 12,000," ItzCash Vice-President, Marketing, Shekher Srivastava told PTI on Tuesday.
The Indian Cricket League has asked for recognition from the ICC and the matter is under consideration.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
Guess who else features on the Variety500 list?
How Bajaj, Colgate, Raymonds, Zee lost out.. Strategic errors have hurt many companies, says adguru Sandeep Goyal.
Young Indian entrepreneurs hope to share some of the limelight too at the Hyderabad event.
Australian batsman David Warner expressed apprehension about Test cricket's survival should the proposed 'rebel' league to be bankrolled by Indian business tycoon Subhash Chandra takes flight but added that the vast sums of money on offer could not be easily rejected by players.
Sachin Tendulkar and Shane Warne met with ICC Chief Executive Dave Richardson at the global body's headquarters in Dubai on Wednesday to discuss their ambitious Legends T20 cricket League, proposed to be held in the United States in August-September.
Sotheby's International Realty was founded in 1976.
Midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.1%.
Indian property markets are not in the pink of health.
Fairfax media on Friday quoted unnamed sources as saying Clarke and Warner would be targeted as "priority acquisitions" on lucrative 10-year deals.
India captain Mahendra Singh Dhoni on Tuesday approached the Madras high court seeking Rs 100 crore damages from Zee News and other defendants over defamatory news about him related to the betting scandal in the sixth edition of the Indian Premier League.
The profit boost for studios will in large part be driven by the rush for local-language content from platforms like Netflix Inc
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
As returns from fiction fall, broadcasters are experimenting with high-cost programming and new genres to grab more eyeballs. But can production houses rise to the challenge?
Another important early decision of Birla was to get into the wireless telephony business in association with AT&T and another revered Indian business house, the Tatas.
Sumedha Raikar-Mhatre examines the Marathi film industry, which annually produces around 190 dissimilar films that requires an investment of Rs 400 crores.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
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