Shares of Zee Entertainment Enterprises Ltd (ZEEL) tumbled 12 per cent in the mid-session trade on Wednesday amid reports of capital market regulator Sebi has unearthed a financial discrepancy exceeding USD 241 million (nearly Rs 2,000 crore) in the accounts of the company. The stock of the company nosedived 11.58 per cent to Rs 170.65 apiece on the BSE. ZEEL shares plunged 11.39 per cent to Rs 170.70 per piece on the NSE.
The panel will include Economic Affairs Secretary Subhash Chandra Garg and RBI Deputy Governor N S Vishwanathan.
DEA is currently headed on an interim basis by Corporate Affairs Secretary Tapan Ray
This comes days after another Jain monk, Sugyeysagar Maharaj (72), fasting to protest the Jharkhand government's decision died at the temple on Tuesday.
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
The Congress alleged Chandra and the BJP were adopting 'delaying tactics'.
In terms of market capitalisation, Zee alone has a market cap of Rs 24,000 crore compared to Rs 15,000 crore of the merged Reliance entity.
Rifleman Adarsh Negi spoke to his father over the phone on Sunday. The next day, Dalbir Singh Negi got another call, informing him about his son's death in the terror attack in Jammu and Kashmir's Kathua.
The direct-to-home television service of Zee TV will be operational in India in the second half of next month, Subhash Chandra, chairman, Zee Network has said.
The fire was noticed at around 9.10 pm and it was doused within half an hour, officials said adding that no arrival flight was affected.
The suggestions have been part of the final position paper on social sciences, which is a key perspective document that helps in the development of new NCERT textbooks on the subject. The proposal has yet to get a final nod from NCERT.
Former Central Bureau of Investigation joint director Amit Kumar, who is now posted as Chhattisgarh police ADG, led the probe into the coal scam that resulted in convictions in a number of cases.
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.
Were the remains of Netaji Subhash Chandra Bose brought back from Japan to India under intimation of Prime Minister Manmohan Singh in 2006?
A day after his expulsion from the Congress, Acharya Pramod Krishnam on Sunday said leaders like Sachin Pilot and Priyanka Gandhi Vadra are being disrespected in the party where people need 'chamchagiri' (sycophancy) to survive.
President Droupadi Murmu on Saturday approved 139 Padma awards including seven Padma Vibhushans, 19 Padma Bhushans and 113 Padma Shris.
Rediff.com's Vicky Nanjappa speaks to Author Anuj Dhar about his latest book on Subhash Chandra Bose and uncovers some of the CIA's long-lost records, along the way.
A state health department official, however, said that the baby boy was alive when his parents took him out of the hospital even as doctors asked them not to do so as the child's condition was serious.
The National Company Law Tribunal (NCLT) on Thursday allowed the merger of Zee Entertainment Enterprises Ltd and Culver Max Entertainment (earlier known as Sony Pictures Networks India). This order by the Mumbai bench, headed by H V Subba Rao and Madhu Sinha, will pave the way for the creation of a $10-billion media company, the biggest in the country. The tribunal also dismissed all objections regarding the merger.
12 of the 20 MPs with the highest winning margins in the 2019 Lok Sabha polls have not been re-nominated by their parties for the 2024 general elections.
Watching the dancing queen groove is such a satisfying experience that even a bad movie cannot come in its way.
Shiv Sena-Uddhav Balasaheb Thackeray chief Uddhav Thackeray on Sunday claimed a "Godhra-like" incident may take place during the "return journey" of the large number of people expected to converge at Ayodhya in Uttar Pradesh from across the nation for the inauguration of the Ram temple.
Zee TV is expected to start airing its programmes in China as soon as it gets the downlinking rights.
Several ministers, including Parsadi Lal Meena, B D Kalla, Mamta Bhupesh and some independents like Suresh Tak, are present at the hotel in the lake city.
The University Grants Commission (UGC) on Friday declared 21 universities as "fake" and not empowered to confer any degree, majority of which are in Delhi followed by Uttar Pradesh.
In a bid to strengthen the executive management Zee Telefilm's Subhash Chandra has relinquished the post of managing director and appointed Pradeep Guha as chief executive officer.
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 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 organisations for allegedly siphoning off funds of the media firm. "There is no certainty that these eight months won't be extended. ...past record of Sebi is that they have always extended it (investigation).
Sunil Khanna, the chief executive officer of Zee Turner, has been named as the new president of Subhash Chandra-promoted Zee Telefilms Ltd.
The mobile phones of some of these people were switched off while many of the last given addresses were found to be locked.
The busts of the trio were installed on August 20 by outgoing DUSU president Shakti Singh without taking permission from the varsity authorities. They were removed on the intervening night of Friday and Saturday.
Garg had refused to sign on the report finalised by the former Reserve Bank of India governor Bimal Jalan-led committee reviewing the central bank's economic capital framework (ECF).
During the procession that lasted for more than three-and-half hours, he passed through 14 assembly constituencies.
As severe cyclonic storm 'Remal' initiated its landfall process between the coasts of Bangladesh and adjoining West Bengal on Sunday evening, authorities took swift action, evacuating over 1 lakh people from vulnerable areas of the state to safety.
Disney Star is mulling legal actions against Zee Entertainment for backing out from a $1.4 billion sub-licensing agreement for TV broadcast of international cricket matches in India, according to industry sources. This could brew another legal trouble for Zee Entertainment Enterprises Ltd (ZEEL), which is already facing an arbitration plea by Sony Group at the Singapore International Arbitration Centre, claiming $90 million for breach of conditions of their merger agreement. Disney Star, an Indian subsidiary of media conglomerate The Walt Disney Company, is working on its strategy over the development, said industry sources.
Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a $10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its $10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee.
The Congress on Friday claimed that a 'silent undercurrent' is brewing across western Uttar Pradesh against the 'failures' of the Modi government, as it flagged issues such as 'neglect' of sugarcane farmers and examination paper leaks.
The cyclone ravaged adjacent coasts of the state and Bangladesh between Sagar Island and Khepupara, near the southwest of Mongla in the neighbouring country, after its landfall process began at 8.30 pm on Sunday.
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