Investment firm Invesco Developing Markets Fund, the largest shareholder in Zee Entertainment Enterprises, on Thursday said it will support the Zee-Sony merger deal and has decided not to pursue the call for ZEEL EGM to remove managing director and CEO Punit Goenka and two independent directors. The company said it will support the merger of Zee and Sony, contending the "deal in its current form has great potential for Zee shareholders" but added if it is not completed as currently proposed, Invesco retains the right to requisition a fresh EGM. Two days after the Bombay high court ruled that Invesco's call for EGM was legally valid, the investment firm in a statement said, "Since we announced our intention to requisition an EGM and add six independent directors to Zee's Board of Directors, Zee has entered into a merger agreement with Sony.
'Whether Mumbai Indians will release Rohit Sharma or not, whether he is coming to the auction or not, even if he comes if you are going to use 50 per cent of your salary cap on one player, how will you manage the other 22 players?'
If Prakash Jha is able to transfer today's social and political reality onto the screen, the future seasons of Aashram might just get a much-needed dose of eyeball-grabbing power, observes Deepa Gahlot.
'It was great to have the Indian roots reflected in full force.'
Launched this April, the FCG business will end the year with a turnover of Rs 500 crore
As India bids adieu to Lord Ganesha on the occasion of Anant Chaturdashi, film folk rush to the pandals for one last visit.
Much of the discussion is happening at a "family level, not a corporate level". That means it is an Ambani or a Goenka in direct talks with Johar.
Two investment firms, together accounting for 17.88 per cent of the paid-up share capital of Zee Entertainment Enterprise Ltd (ZEEL), have sought the removal of the current managing director Punit Goenka from the board of the company. The two investment firms are -- Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund LLC, the largest shareholder of ZEEL. The two firms have called an extraordinary general meeting of shareholders seeking to remove Punit Goenka.
RPG Enterprises Chairperson Harsh Goenka on Tuesday said the NCLT should be the next institution to be cleansed by the government to prevent "hard earned public money being stolen" as companies' promoters stash away money on the side and get "80-90% haircut" from bankers during the insolvency resolution process. In an apparent reference to recent cases of insolvency proceedings of some firms wherein creditors have taken huge haircuts on their dues, Goenka said it is the "new game in town". Insolvency resolution plans require approval of the National Company Law Tribunal (NCLT).
Amid a debate over 70-90-hour work week, the pre-Budget Economic Survey on Friday cited studies to state that spending over 60 hours a week on work could have adverse health effects. The survey noted that spending long hours at one's desk is detrimental to mental well-being and individuals who spend 12 or more hours (per day) at a desk have distressed or struggling levels of mental well-being.
Sony Pictures Networks India Pvt Ltd (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday said they have signed definitive agreements for their merger following conclusion of an exclusive negotiation period during which both parties conducted mutual due diligence. In a joint statement, the two companies said they have "signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries". The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence, it added.
The take by the Economic Survey 2024-25 on work hour week had come weeks after Larsen & Toubro Ltd Chairman and Managing Director SN Subrahmanyan sparked off a raging debate on social media when he said employees should work 90-hour a week, including on Sundays rather than sit at home.
The BCCI will be expecting the two new IPL franchises to go for Rs 7000 crore to Rs 10,000 crore each at the bidding process which begins in Dubai on Monday.
Fans expressed discomfort over the incident. Many believe such matters should be addressed in private to maintain team morale and the captain's authority.
A video of the CEO dancing along with her staffers is winning the Internet and encouraging other leaders to make workplaces happier.
With founder Subhash Chandra no longer in the driver's seat at Zee, the acid test for Punit Goenka would be to take the financial investors along with him even as he strives to weather the latest storm. The question, now, is how he will deal with the challenges of being a professional CEO rather than an owner-CEO in the aftermath of his family offloading most of its promoter stake to a clutch of financial investors. However, the silver lining is that Zee remains the most profitable of the top four broadcasters in India.
So many Bollywood divas walked down the blue carpet of The Times Of India Film Awards OTT Edition 2023, held over the weekend.
Stars Walk the red carpet of The Bollywood Hungama OTT India Fest and India Entertainment Awards
Kolkata-based business tycoon Sanjiv Goenka's RP-SG Group claimed the Lucknow franchise for a whopping Rs 7090 crore, while international equity investment firm CVC Capital won the bid for Ahmedabad with a Rs 5600 crore offer.
Former India pacer Zaheer Khan on Wednesday assumed the role of Lucknow Super Giants team mentor.
Two young men jostle in a rickshaw as it clatters along a narrow, bustling lane of North Kolkata, each with a leg dangling over the side of the vehicle, a bulging sack of cosmetics nestled between them. The protagonists here are the founders of Emami - Radhe Shyam Agarwal and Radhe Shyam Goenka - childhood friends who gave up cushy corporate jobs to build a fast-moving consumer goods (FMCG) company. From a 200-square-foot rented space on Muktaram Babu Street in North Kolkata, brand Emami stepped into the competitive world of FMCG 50 years back, armed with just three products: Vanishing cream, talcum powder, and cold cream.
Rohit Sharma was all smiles as he spoke to MI Owners Nita Ambani and Akash Ambani after their final league match.
When evaluating bonds, returns shouldn't be the sole factor. Pay close attention to the bond's credit rating. It should ideally be AA or higher.
Rahul Dravid had the audience in splits with his humorous reply.
Weighing in on the 90-hour workweek controversy, ITC Ltd chairman Sanjiv Puri said that it is more important for the workers to be aligned to the grander vision of the company rather than the number of hours put in. Giving an analogy of many workers building a castle, he said, "If you ask a mason what he is doing, he might say he is laying a brick, another might say he is building a wall but some might say he is building a castle.
President Droupadi Murmu on Saturday approved 139 Padma awards including seven Padma Vibhushans, 19 Padma Bhushans and 113 Padma Shris.
Renowned spiritual leader and Vipassana guru Satya Narayan Goenka died on Sunday night due to old age. He was 89. Goenka breathed his last at his residence in Mumbai on Sunday night, his associate said
Punit Goenka, the former director of Zee Entertainment Enterprises, is not the only one who lost his board seat due to shareholders' activism last fortnight. In recent past, institutional shareholders of several companies, including Nestle and Wipro, have pushed back against board proposals by taking an aggressive stance while voting.
The BCCI's retention and auction rules ensure that franchises will have to make careful decisions to balance retaining star power with building depth across their squads.
'I am not a Shubman Gill hater but I feel Ruturaj is a better option because he has scored runs in tougher situations.'
Industry leaders including Google's India-born chief executive Sundar Pichai on Wednesday mourned the death of Ratan Tata, saying the veteran industrialist cared about making India better. "He leaves an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Pichai said in a post on X. Pichai recalled that his last meeting with Tata was at Google's office where they spoke about the progress of self-driving car Waymo.
He was 83. Goenka is survived by his wife Sushila and sons Harsh Vardhan and Sanjiv.
'We are wishing you come back to RCB. I'm a die-hard RCB fan and you playing past in the RCB... definitely the rumours I've heard. I won't say anything but I'm just wishing and praying that you come into RCB,' to which Rahul replied 'Let's hope.'
The deal, which values Firstsource at Rs 800 crore (Rs 8 billion), would give Goenka a foothold in the information technology sector.
Group is planning to reduce its dependence on power generation business by expanding in other areas
LSG released KL Rahul before the team submitted its list of retained players by the October 31 deadline.
Rising Pune Supergiant owner Sanjiv Goenka, on Tuesday, rubbished speculations that he has already bought stakes in Rajasthan Royals after the Indian Premier League orgainsers made it clear that his side and Gujarat Lions will not get extensions for the 2018 season.
For the past few days, Tata had been admitted to the Breach Candy Hospital in south Mumbai.
He made his mark in diverse businesses, ranging from tyre to music.
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