Indian tennis player Zeel Desai progresses to the semifinals of the Chhatrapati Sambhajinagar Open Endurance Women's ITF tournament after defeating Jennifer Luikham. Other quarterfinal results and doubles semifinal outcomes are also reported.
Zeel Desai secured a dominant victory in her Billie Jean King Cup debut, giving India a 1-0 lead against Mongolia in the Asia/Oceania Group I tie.
India secured a dominant 3-0 victory against Mongolia in the Billie Jean King Cup Asia/Oceania Group I tie, with Zeel Desai making a successful singles debut. India now faces Korea in their final match, hoping to keep their playoff chances alive.
Zeel Desai, Madhurima Sawant, and Jennifer Luikham qualified for the quarterfinals of the Chhatrapati Sambhajinagar Open Endurance. Top seed Zhibek Kulambayeva also advanced, along with other seeded players.
Zeel Desai and Sahaja Yamalapalli secured dominant victories for India against Mongolia in the Billie Jean King Cup Asia/Oceania Group I, with both players winning in straight sets.
Madhurima Sawant and Sonal Patil secured upset victories over seeded opponents in the first round of the Chhatrapati Sambhajinagar Open Endurance ITF tennis tournament. Other Indian players also advanced to the next round.
India is set to compete in the Billie Jean King Cup Asia-Oceania Group I ties, aiming for promotion to the 2026 play-offs. Despite a setback with Shrivalli Bhamidipaty's withdrawal, the team hopes to capitalise on home advantage.
India's Billie Jean King Cup team expresses confidence and readiness for the Asia-Oceania Group I ties despite an injury to Shrivalli Bhamidipaty. Captain Vishal Uppal highlights the team's depth and preparation, while players emphasise the advantage of home conditions and familiarity with opponents.
A simple, flavoursome Maharashtrian meal that Alia Bhatt and Kareena Kapoor Khan tucked into.
The National Company Law Tribunal has admitted an Indusind Bank plea for insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL). The division bench of judicial member H V Subba Rao and technical member Madhu Sinha on Wednesday also appointed Sanjeev Kumar Jalan as the resolution professional in the matter. The matter pertains to a default of Rs 89 crore by Zee Group's multisystem operator arm Siti Networks claimed by Indusind Bank, for which ZEEL was a guarantor.
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. A day after Sony Pictures Networks India (SPNI) stated that it has not yet agreed to a deadline extension requested by Zee Entertainment Enterprises Ltd (ZEEL) for their proposed $10-billion merger, the Subhash Chandra family-promoted media firm said it has received a communication from Sony group for discussing an extension of the deal which was announced almost two years ago.
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.
Markets watchdog Sebi on Thursday said it will slap a fresh show cause notice on ZEEL founder chairman Subhash Chandra, and his son Punit Goenka as it vowed to continue the investigation into alleged violation of listing norms against the media baron and his company. The order passed by Sebi's adjudicating officer said the contents of the earlier Show Cause Notice (SCN) issued to them will also be incorporated "in the SCN to be issued in the instant matter".
ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed $10-billion merger and have agreed to withdraw all claims against each other. As part of the "comprehensive non-cash settlement" between ZEEL and Culver Max Entertainment Pvt Ltd (CMEPL), both "have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the SIAC and all related legal proceedings initiated in the NCLT and other forums," said a joint statement.
Punit Goenka has resigned as the managing director of Zee Entertainment and has been appointed as CEO to have his focus entirely on operational responsibilities assigned to him by the board of the company. The board has "accepted the resignation of Punit Goenka as managing director of the company and appointed him as CEO," said Zee Entertainment in a regulatory update.
Leading broadcaster Zee Entertainment on Monday said it is planning to raise funds from the market through various routes, including issuing of equity of shares, and qualified institutions placements (QIPs). Though the company has not specified the amount it plans to raise, Zee Entertainment Enterprise Ltd (ZEEL) in a regulatory filing said its board is meeting on June 6 to consider the proposal for this.
Zee Entertainment Enterprises has sought a termination fee of $90 million (around Rs 748.7 crore) from the Sony Group for calling off the $10 billion merger deal in January this year. It has sought termination fees from two Sony Group entities -- Sony Pictures Networks India (SPNI), now known as Culver Max Entertainment, and Bangla Entertainment (BEPL), according to a regulatory filing from Zee Entertainment Enterprises Ltd (ZEEL) on Thursday.
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.
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.
Zee Entertainment on Friday said it has "pruned" its Technology and Innovation Centre (TIC) by about 50 per cent following the guidance of a special committee, which had conducted a critical assessment of its several business verticals. The MD & CEO has pruned TIC staff strength by 50 per cent to achieve a cost-effective structure, a Bengaluru-based business vertical of the company that offers technology solutions, Zee Entertainment Enterprises Ltd (ZEEL) said in an official statement.
ZEE Entertainment Enterprises Ltd on Friday said its MD & CEO Punit Goenka has initiated a process of rationalisation of workforce by 15 per cent to prune staff strength across the company. In a regulatory filing, ZEE Entertainment Enterprises Ltd (ZEEL) said Goenka has proposed a lean organisation structure to the board with a lateral structure while identifying broadcast, digital, movies and music as core business units. "In line with his overall strategic approach, the MD & CEO has initiated the process of rationalisation of the workforce by 15 per cent, that will prune the staff strength across the company to arrive at a streamlined team that is sharply focused on the set goals for the future," the company said.
Two days after the termination of the merger agreement by Sony Group, Zee Entertainment on Wednesday hit back by filing a petition before the National Company Law Tribunal (NCLT), seeking a direction to implement the merger scheme. Besides, it has also initiated appropriate legal actions to contest the claims of $90 million (Rs 748.5 crore) filed by Sony Group before the Singapore International Arbitration Centre (SIAC), according to a regulatory update by Zee Entertainment Enterprise Ltd (ZEEL).
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 National Company Law Tribunal (NCLT) on Tuesday admitted a fresh petition filed by a Zee Entertainment Enterprises Ltd shareholder seeking enforcement of the now-cancelled merger deal between ZEEL and Sony. The Mumbai bench of NCLT also directed Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks and fixed the next date of hearing on March 12. On January 21, Sony Group Corp (SGC), the Japanese parent company of Sony Picture Network India (SPNI) and BEPL, announced the termination of the $10 billion merger agreement with ZEEL, while seeking $90 million for breach of conditions besides initiating arbitration.
Gautam Adani-owned Adani Ports and Special Economic Zone (APSEZ) will replace IT major Wipro in the 30-share BSE Sensex from June 24, according to an official announcement on Friday. This marks the first inclusion of any Adani Group firm in Sensex. The group has 10 listed firms with a combined market valuation surpassing Rs 17 lakh crore.
Industry experts believe that this deal will positively impact the Indian film industry, which is struggling with fewer movie releases.
The fate of the $10 billion merger between Zee Entertainment Enterprises and Culver Max Entertainment, formerly Sony Pictures Networks India, is hanging by a thread, with the two parties unable to finalise an agreement as the end of the one-month grace period looms. The two parties are yet to come to an agreement over Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka leading the merged entity after Sony expressed concerns after market regulator Sebi barred him from holding managerial posts in Zee and any of the entities in a fund-diversion case.
The National Company Law Appellate Tribunal on Friday issued notices to Zee Entertainment Enterprise Ltd (ZEEL) over the petitions filed by IDBI Bank and AXIS Finance against an NCLT order that approved the media company's merger with Culver Max Entertainment. However, a two-member NCLAT bench comprising chairman Justice Ashok Bhushan and Member Arun Baroka declined to grant any stay over the merger process during the pendency of the hearing. The appellate tribunal (NCLAT) has directed to list both petitions on January 8 for hearing, directing Zee Entertainment Enterprise Ltd to file a reply.
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.
Sony Picture Network India (SPNI) management is committed to long-term growth in India and the company will actively explore new organic and inorganic possibilities to strengthen its presence in the country, company managing director and CEO, NP Singh told employees. In a letter, two-days after the calling off of the $10 billion merger deal with Zee Entertainment, he asked employees to focus on current projects, with an immediate goal to unleash the company's full potential, continuing to craft content that not only engages audiences but also boosts subscriber growth and revenues. "As we close the chapter on our proposed merger with ZEEL (Zee Entertainment Enterprises Ltd), I want to take a moment to talk to you - not just as your CEO but as someone who has been on this journey with you.
The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Networks India) is at a very important juncture. With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.
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).
In its reply to the Securities Appellate Tribunal (SAT), the Securities and Exchange Board of India (Sebi) said urgent action was warranted against the promoters of Zee Entertainment Enterprises Limited (ZEEL) in the alleged fund diversion case to safeguard the management and protect investors and other stakeholders. It termed the applications made by Essel Group Chairman Subhash Chandra and ZEEL managing director (MD) and Chief Executive Officer (CEO) Punit Goenka as "completely false and misleading" in its response submitted to SAT on June 17. "We have a situation before us where the chairman emeritus and the MD and CEO of this large listed company are involved in a myriad of different schemes and transactions through which vast amounts of public money belonging to listed companies are diverted to private entities owned and controlled by these persons.
In a major relief to media major Zee Entertainment Enterprises Ltd (ZEEL), the National Company Law Appellate Tribunal (NCLAT) on Friday stayed the insolvency proceedings initiated against it earlier this week. Admitting a petition filed by ZEEL Managing Director and chief executive Punit Goenka, the appellate tribunal issued notices to private sector lender IndusInd bank and the interim resolution professional directing them to file a reply in two weeks. NCLAT said the submissions made by both sides need a detailed hearing.
The National Company Law Appellate Tribunal (NCLAT) has set aside the order of NCLT directing bourses NSE and BSE to reconsider their approval for the Zee-Sony merger. A two-member NCLAT bench has asked NCLT to consider the merger of Zee Entertainment with Culver Max Entertainment (earlier known as Sony Pictures Networks India) afresh, after hearing all the parties. The appellate tribunal order came on hearing the appeal filed by Zee Entertainment Enterprises Limited (ZEEL) against the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) on May 11, 2023.
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.
IndusInd Bank had moved NCLT claiming default of Rs 83.08 crore against the media & entertainment firm. The petition, to initiate insolvency proceedings against ZEEL, has been filed under section 7 of the Insolvency & Bankruptcy Code (IBC).
The Bombay high court on Tuesday granted an interim injunction against Zee Entertainment Enterprise Ltd's (ZEEL) largest shareholder Invesco, restraining the latter from going ahead with the requisition of an extraordinary general meeting (EGM) seeking removal of the ZEEL MD and CEO Punit Goenka. A single bench presided over by Justice Gautam Patel said, "I have granted an injunction to the respondents." A detailed order of the court is awaited.
Media major Zee Entertainment Enterprises Ltd (ZEEL) has cancelled its board meeting, scheduled to be held on Wednesday for considering the results for the July-September quarter, due to lack of quorum. In a regulatory filing on Tuesday, ZEEL said, "A meeting of the Board of Directors of the Company, which was scheduled to be held on Wednesday, October 27, 2021, inter alia, to consider and approve the unaudited financial results of the Company both on a standalone and consolidated basis for the 2nd quarter and half year ended September 30, 2021, has been cancelled due to lack of quorum." The development comes at a time when the company is battling it out the single-largest shareholders Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund LLC that together hold 17.88 per cent and have been pressing for an extraordinary general meeting of shareholders for removing managing director Punit Goenka, besides opposing ZEEL's proposed merger deal with Pictures Network India (SPNI).
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".
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