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.
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.
Crime Beat is engrossing enough to binge-watch, endorses Deepa Gahlot.
Interestingly, all of R Praggnanandhaa's victories have come at the expense of the Indians so far in the tournament.
Superheroes, snowmen, freedom fighters, Sukanya Verma lists everything the OTT channels have to offer this week.
Newly-crowned world chess champion D Gukesh is looking forward to the day when the sport will become a part of the Olympic curriculum, which, he said, would take it to an altogether different level not just in India but across the world.
Grandmaster Nodirbek Yakubboe said he didn't respond to Indian GM R Vaishali's handshake gesture because of 'religious reasons'.
Reliance Industries on Wednesday said it had couple of months back made a proposal for merger of its media properties with Zee but dropped the offer over differences over stake of Zee founders. Hours after Zee Entertainment Enterprises Ltd's biggest shareholder named it as a firm that could help revive the television company's fortunes, billionaire Mukesh Ambani's firm issued a statement clarifying its position. "In February/ March 2021, Invesco assisted Reliance in arranging discussions directly between our representatives and Mr Punit Goenka, member of the founder family and managing director of Zee," it said.
Zee is estimated to have paid around Rs 225 crore for the complete rights of Radhe. The total revenue that it may earn could be around Rs 135 crore, implying a shortfall of Rs 90 crore.
Food, feminism, fights, father-son issues, famous rivalries, OTT is as loaded as it gets this week.
Women power, rebellious love, shady godmen, love triangles and more on OTT. Sukanya Verma lists everything coming up on OTT this week.
A superficial drama that never rises above its boring sentimentality, notes Mayur Sanap.
Allu Arjun's biggest blockbuster, Satyajit Ray's story and Spidey's exciting new avatar, Sukanya Verma lists her recommendations on OTT this week.
rediffGURU Anu Krishna offers relationship advice and tells you how to take control of your life.
D Gukesh defeated Dutch Grandmaster Max Warmerdam to stay in sole lead on 7.5 points at the end of the 10th round of Tata Steel Chess tournament
Ashnoor Kaur's style is a perfect mix of sweet and sassy.
'I hope this film will bring some change in people, their homes, and in our society.'
Grandmaster R Praggnanadhaa played out a solid draw with World champion D Gukesh in the eighth round of the Tata Steel Masters.
Zee5 is now the fifth largest streaming app after YouTube, Hotstar, MX Player and Voot, and there is talk of hiving off Zee5 to drive valuation, says Vanita Kohli-Khandekar.
Christmas romance, heists, thrillers, it's all there on OTT this week. Sukanya Verma lists her recommendations.
Sukanya Verma asks you to brace yourself for an out-of-body-experience on OTT this Diwali week.
'Sunny sir keeps me distracted from my morning sickness.'
Manoj Bajpayee is back with another gripping story in Despatch, an investigative crime thriller which is set to release on ZEE5 on December 13.
World Champion D Gukesh has taken the joint lead at the Tata Steel Masters chess tournament after defeating his fellow Indian, P Harikrishna.
Gukesh was in control with his white pieces giving nothing away to Keymer, one of his seconds, in a Nimzo-Indian defense game.
Indian Grandmaster R Praggnanandhaa secured a victory over compatriot Arjun Erigaisi in the third round of the Tata Steel Chess Tournament.
Zee Entertainment Enterprises Ltd on Wednesday approached the National Company Law Appellate Tribunal (NCLAT) against the requisition of minority shareholders Invesco and OFI Global China Fund to convene an Extraordinary General Meeting (EGM) to discuss various issues, including removal of managing director Punit Goenka. The media major has challenged the orders of Mumbai-bench of the National Company Law Tribunal, which had on Tuesday directed Zee Entertainment Enterprises Ltd (ZEEL) to filed reply over the petition filed by its minority shareholders by October 7 (Thursday), the next date of hearing. Confirming the development, a ZEEL Spokesperson said: "The company has moved NCLAT in accordance with the due process available under the law."
Grandmaster D Gukesh will face his first major challenge since becoming world champion when he begins his campaign in the Tata Steel Chess tournament, which starts on Friday in Wijk Aan Zee, The Netherlands.
She held a roadshow in Nagpur on Sunday for BJP candidate Pravin Datke.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
Mrs succeeds in riling you up for all the right reasons. And without resorting to high-pitched drama, applauds Sukanya Verma.
Rameshbabu Praggnanandhaa defeated compatriot Pentala Harikrishna, while Arjun Erigaisi settled for a draw in the second round of 87th Tata Steel Chess Tournament.
'Deva gave me the chance to push myself as an actor after a long time.'
Khoj: Parchaiyon Ke Uss Paar is too pretentious a title for the far-fetched, lightweight thriller that follows, feels Deepa Gahlot.
Sukanya Verma gives you some interesting options to choose from.
The apex court also issued notice, including to the Centre through the office of the attorney general, on Ranjan's plea seeking clubbing of FIRs and protection from coercive action.
Income tax officials on Monday conducted surveys at offices of engineering major Larsen & Toubro and media firm Zee Group for alleged GST evasion, an official of the tax department said. When contacted, L&T neither confirmed nor denied the development, while the media group has confirmed the tax survey. The tax official said surveys have been carried out at many L&T premises in the city, and in case of Zee, the surveys are underway at all its offices across the country since morning.
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.
The TV news anchor arrested and released on bail over a misleading video of Congress leader Rahul Gandhi was not named as an accused in the first information report (FIR) lodged by the Uttar Pradesh, just minutes before they reached his home in Ghaziabad.
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