Subhash Chandra, the chairman of the Essel Group, which has launched the breakaway Indian Cricket League, made it clear that the ongoing ICL-BCCI stand-off is not an "ego clash" between him and BCCI president Sharad Pawar and said they continue to be
Subhash Chandra making headlines is no longer news. For some years now it has been for his no-holds-barred feud with the Board for Control of Cricket in India.
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.
Rajya Sabha MP Subhash Chandra on Tuesday filed his nomination from Rajasthan for the elections to the Upper House of Parliament as an Independent backed by the Bharatiya Janata Party.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
The company has kicked off sale of infrastructure assets as well as sale of a part of the promoter holding in Zee to repay loans.
The court left it to the central government to decide whether to extend the term of the commission beyond May 13, 2005.
Subhash Chandra, Chairman, Zee & Essel Group has received the Honorary Doctorate of Business Administration from the University of East London (UEL).
The Essel Group website calls him a "karmyogi", defined as someone who believes in action rather than worry about its consequences.
Zee Group is India's second-largest media and entertainment firm.
The Essel group founder, Subhash Chandra has settled 91.2 per cent of his debt with 43 lenders, and the remaining dues are in the process of being paid. "I am happy to report that we have come out of the financial stress situation by settling 91.2% of our total debt to 43 lenders in 110 accounts. "About 88.3% of the amount has been paid, while the remaining 2.9% is in the process of being paid. "We are making all the required efforts to settle the remaining 8.8% of our total debt.
Rs 40 crore already deployed in a residential project in Chennai.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
It is likely he will rope in an international ATM manufacturer as a strategic partner with equity stake.
Zee's revival taught him that professionalising is fine but shareholders can never forfeit responsibility.
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.
A charge-sheet against Chandra and 12 others was filed.
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.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
'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.
Zee News, Zee Media's flagship brand, was at the centre of a controversy over its media practices that pushed Subhash Chandra towards BJP.
Eight individuals have been arrested in Ayodhya in connection with the alleged embezzlement of donations received at the Ram temple. The arrests follow an FIR lodged by a member of the Shri Ram Janmabhoomi Teerth Kshetra Trust, based on recommendations from a Special Investigation Team. The accused were involved in counting cash and valuables and face charges including theft and criminal breach of trust.
A 60-year-old murder accused allegedly committed suicide inside a jail in Jabalpur, Madhya Pradesh, on Monday morning. The undertrial prisoner, Guddu alias Raja Vishwakarma, allegedly hanged himself using a towel in the bathroom of a hospital ward in the prison where he was being treated.
US Secretary of State Marco Rubio arrived in Kolkata for a four-day diplomatic tour to India, marking the first visit by a US secretary of state to the city in 14 years. His itinerary includes meetings with Indian officials, energy talks, and a Quad Foreign Ministers Meeting.
The Special Investigation Team (SIT) probing the alleged embezzlement of donations at the Ram temple in Ayodhya is expected to submit its final report to the Uttar Pradesh government shortly, sources said on Thursday.
A primary school teacher, a former car mechanic, a retired bank employee and a trusted aide of a senior Shri Ram Janmabhoomi Teerth Kshetra Trust functionary -- people from diverse backgrounds are among the eight arrested in connection with the alleged embezzlement of donations at the Ram temple in Ayodhya.
The NCERT Class 8 social science textbook has undergone significant revisions, including a tweaked narrative on the 1947 Partition, the inclusion of VD Savarkar's demand for Swaraj, and the removal of references to Adolf Hitler and Nazi ideology. These changes follow a Supreme Court intervention regarding controversial content on the judiciary.
The reduction in value of Chandra's assets comes close on the heels of the group's debt burgeoning to over Rs 12,000 crore, much of which he had raised by pledging his shares to banks and mutual funds in his flagship company ZEEL after many of the groups infrastructure bets did not take off.
Congress candidates Randeep Surjewala, Mukul Wasnik and Pramod Tiwari were elected to the Rajya Sabha, according to a tweet by Rajasthan Chief Minister Ashok Gehlot.
Zee and its lenders had decided to enter into an agreement to not offload the pledged shares amid a sharp slide in the prices of the underlying securities during end-Janury. The terms give the lenders a greater say, upside benefit from the proposed strategic sale, more cover and personal guarantee.
Mass mobility in India is in a race when the light turns from yellow to green. Just that this moment has lasted three years. The renewed enthusiasm, however, indicates that the lights may finally be about to change, says Patanjali Pahwa.
Here are the famous faces who turned up to vote.
A 22-year-old man was allegedly beaten to death in Rajasthan's Sriganganagar district by the brothers of a married woman after they objected to him speaking to her over the phone, police said.
Long before Alpha, Bollywood had been retelling the Ramayana in modern settings, sometimes subtly and sometimes not so subtly.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
National Security Advisor Ajit Doval emphasized the need to strengthen India's security across all sectors, including the economy, to address historical vulnerabilities. He highlighted the sacrifices of freedom fighters and the importance of strong leadership.
'Those who have drained Mamata Banerjee's blood -- they are the ones calling us traitors.'
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Mumbai's metro network has expanded with the inauguration of the first phases of Metro Line 9 and Line 2B, promising improved connectivity and reduced travel times for commuters.
