After spending 20 days in jail, two Zee group editors were granted bail on Monday by a Delhi court in the case of alleged Rs 100 crore extortion bid from Congress MP Naveen Jindal's firm.
Subhash Chandra-promoted Zee group on Friday said it would launch a full-fledged Hindi business news channel from November 30.
Japan's Sony Corporation, which is merging its Indian television content company with Zee Entertainment Enterprises, is likely to seek a fresh forensic audit of the company after market regulator Sebi levelled fund diversion charges against Zee promoters, top lawyers said. The Sebi also barred Zee founder Subhash Chandra and its Chief Executive Officer (CEO) Puneet Goenka from holding any position as director. "As the Sebi has made fund diversion charges, which may change the nature of audited reports already filed, the acquirer (Sony) can seek a fresh forensic audit," said H P Ranina, a corporate lawyer.
Zee Group Chairman Subhash Chandra on Saturday appeared before the police for questioning in connection with the alleged Rs 100 crore extortion bid by two Zee editors from Congress MP Naveen Jindal's company for not airing news damaging to it.
Courts should not grant ex-parte injunctions against publication of a news article barring in exceptional cases as it may have severe ramifications for the right to freedom of speech of the author and the public's right to know, the Supreme Court has said.
A Delhi court on Saturday reserved its order for Monday on bail pleas of two Zee group editors, arrested for their alleged roles in the case of Rs 100 crore extortion bid from Congress MP Naveen Jindal's firm.
Sensing competition for the telecast rights of the cricket matches being played in India, Subhash Chandra's Zee group has upped its offer by Rs 94.5 crore
Zee Television has accused the Indian Cricket Board of adopting double standards.
The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against Zee Learn, following a petition filed by private sector lender Yes Bank Ltd. Yes Bank Ltd (YBL) had claimed a default of Rs 468.99 crore by the Essel Group company. Out of the default amount of Rs 468.99 crore, the principal amount was Rs 410.67 crore and Rs 58.32 was interest.
Dish TV, the DTH arm of Zee group which will list on the stock markets in October-November this year, expects to break-even by fiscal 2008-09.
ICL, which is primarily a television property for the Zee group, kicks off on November 30 and is yet to find advertisers.
Zee Group Chairman Subhash Chandra, named in the FIR lodged in the alleged Rs 100 crore extortion bid from Naveen Jindal's firm, on Wednesday agreed before a court in New Delhi to undergo lie-detector test but his two arrested editors refused to do so.
The Competition Commission of India on Tuesday approved with certain conditions the mega-merger deal between media groups Sony and Zee. In a tweet, the watchdog said it has cleared the deal with certain modifications. The proposed merger was announced in September last year. CCI said it has approved the "amalgamation of Zee Entertainment Enterprises Limited (ZEE) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (CME), with certain modifications".
Media conglomerate Zee Group's demerged group firms Zee News and Wire and Wireless (India) Limited on Wednesday got listed at Rs 50 and Rs 80 respectively
In an open letter to Zee's shareholders, Invesco, which holds a 7.74 per cent stake in the firm, reiterated its demand for an overhaul of the media group's board and that it would pursue extraordinary general meeting (EGM) to oust chief executive Punit Goenka and two other directors. Last month, Sony Group Corp's India unit signed a non-binding offer to buy Zee.
Even as the World Cup debacle lingers on everyone's mind, advertising agencies have welcomed Zee group chief Subhash Chandra's announcement of a parallel cricket league in the country.
DB Corp, which publishes the country's second most widely read paper Dainik Bhaskar, has been gradually reducing its stake in DNA and wants to focus on the growth in regional markets.
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.
'Star didn't think Kyunki Saas Bhi Kabhi Bahu Thi was good enough to come immediately after KBC.' 'Except for Ekta, no one imagined it would become such a hit.'
Notwithstanding record revenues in certain media sectors like film exhibition in the July-September quarter (second quarter, or Q2), the operational performance of the broadcasting business remained subdued. Zee Entertainment Enterprises and Sun TV are expected to experience a year-on-year (Y-o-Y) decline in advertising (ad) revenues during this period. Conversely, box office (BO) collections are anticipated to exceed Rs 3,000 crore in the quarter, propelled by a series of successful movie releases.
Deadly brides, daredevil officers, bloodthirsty royals, killer toys, celebrity chefs, comic book heroes, angry goddesses, senior citizen dreams, poisonous snowfall, the OTT offerings this week will make you wish for days twice the size of its menu.
A Delhi court on Friday extended till December 20 the interim protection from arrest granted to Zee Group Chairman Subhash Chandra and his son in the case of alleged Rs 100 crore extortion bid from Congress MP Naveen Jindal's firm by two editors of the news channel.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
The hearing on bail pleas of Zee group editors, accused of attempting to extort Rs 100 crore from a firm of Congress MP Naveen Jindal, was deferred on Saturday by a Delhi court to December 3 due to absence of the prosecutor and the investigating officer.
Invesco, the single largest shareholder of Zee Entertainment Enterprises Ltd (ZEEL), on Wednesday said it had tried to facilitate a possible deal between Reliance and the company but refuted claims it had pushed for the transaction at a lower valuation. The latest statement from Invesco comes a day after ZEEL chief Punit Goenka told the company's board that Invesco had come with a proposal in February for a merger with certain entities owned by a large Indian group (Strategic Group) with inflated valuation "by at least Rs 10,000 crore". In a statement on Wednesday, Invesco mentioned that Reliance was the large Indian group.
Under attack for his "takeover" of UNI, Zee group chairman Subhash Chandra on Friday said he was only joining other shareholders to bail out the news agency from its financial crisis, which would require an investment of Rs 100 crore (Rs 1 billion)
Zee's revival taught him that professionalising is fine but shareholders can never forfeit responsibility.
'This is a first-of-its-kind partnership in the Indian media & entertainment landscape, and this association with Disney Star reflects our sharp, strategic vision for the sports business India.'
Chandra said WWIL, perceived as trailing the pack in Mumbai, had actually accounted for 75,000 set-top boxes in Mumbai out of the 150,000 installed in the new conditional access system environment being ushered into the city.
The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday directed Zee Entertainment to convene a shareholders' meet on October 14 for approving the merger with Culver Max Entertainment (formerly Sony Pictures Network). The order, passed on August 24, but uploaded to the bourses on Wednesday, comes close on the heels of the Competition Commission of India (CCI)'s observation that the $10-billion merger could hurt competition and that greater scrutiny of the deal was needed. "This Tribunal hereby directs that a meeting of the equity shareholders of the applicant company (Zee) be convened and held on Friday, October 14, 2022 at 4 p.m. for the purpose of considering, and if thought fit, approving the proposed scheme," the NCLT order read.
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.
The Zee saga will see a long-drawn-out court battle before shareholders get any chance to vote on any proposal by the management or Invesco, says Prosenjit Datta.
IDBI Bank has moved the National Company Law Tribunal (NCLT) against Zee Entertainment Enterprises Ltd (ZEEL) seeking an insolvency proceeding against the media firm to recover dues of Rs 149.60 crore. IDBI Bank has claimed an amount of Rs 149.60 crore, which has been disputed by ZEEL, said a regulatory update from the media major. IDBI Bank has filed an application under section 7 of the Insolvency and Bankruptcy Code, 2016, claiming to be a financial creditor, before NCLT for initiation of Corporate Insolvency Resolution Process against the company, it added.
Manjulika, Bajirao Singham, Squid Games, it's an action-packed end to 2024 on OTT this week.
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