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.
Goenka, who is the elder son of Essel group promoter and Zee chairman Subhash Chandra, has been MD of the media firm since January 1, 2010.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
'Rather than experimenting with CBDCs, we must come up with a very simple and straight design.' 'Dematerialise your currency/cash and with that dematerialised rupee allow all the transactions digitally.'
This year's ceremony will conclude with Sare Jahan Se Acha.
Stocks of companies where promoters have pledged a high percentage of shares, like the Zee group, can be volatile. Such stocks are also prone to rumours, reports Sanjay Kumar Singh.
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.
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.
At its meeting held on Friday, the company's board rejected the minority shareholders' demand and termed the requisition as "invalid and illegal". "In its meeting held on 1st October 2021, the board has arrived at a conclusion that the requisition is invalid and illegal; and has accordingly conveyed its inability to convene the Extraordinary General Meeting to Invesco Developing Markets Funds and OFI Global China Fund, LLC," ZEEL said in a statement.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
RBI Governor Shaktikanta Das and Finance Secretary Subhash Chandra Garg are also expected to attend the meetings.
Banerjee also said that no reason was cited for the tableau's rejection, a decision, which she said had 'pained' people.
Both the BJP and the Congress have banked on new and young faces, some of whom have been nominated by the parties for the first time.
Some analysts also pointed out that "outsourcing" political management to regional satraps such as Bhupinder Singh Hooda in Haryana may have proven counterproductive and micromanagement by the Gandhi family was needed.
'Partition was a two-sided story in a very big way.' 'We've oversimplified it, blamed the British, thought of ourselves only as victims.' 'We've been both victims and perpetrators.'
Zee TV is expected to start airing its programmes in China as soon as it gets the downlinking rights.
West Bengal Chief Minister Mamata Banerjee on Friday announced that 64 files on Netaji Subhash Chandra Bose lying with the state's home department would be declassified and put in public domain from next Friday.
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.
Union Finance Minister Nirmala Sitharaman, Congress' chief spokesperson Randeep Surjewala and senior leader Jairam Ramesh were among the 10 candidates elected to the Rajya Sabha on Friday from Karnataka, Rajasthan and Haryana, while counting was underway in Maharashtra after an eight-hour delay due to wrangling by rival parties over alleged breach of voting rules.
'As CIC, you have the power to comment on policy matters. 'If you have very strong beliefs and you know your rulings will be reported, you will express your beliefs.'
The government may drop its plan to decriminalise cheque bounce offences after there were requests to continue the existing system, which can potentially make people honour their financial commitments due to fear of prosecution. It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call. Last year the Department of Financial Services (DFS) had proposed decriminalising minor offences, which included cheque bouncing, for improving business sentiment and unclogging court processes.
Seeking to consolidate its position in Rajya Sabha, the Bharatiya Janata Party is banking on independents for four additional seats and is seeking to capitalise on the infighting within the Congress in as many states in the June 10 biennial election.
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.
'N Chandra told me, "Arree yaar, don't get heavy on me now! This is a Hindi movie so leave your logic at home".'
In the continuing battle between the promoter family and Invesco, ZEEL said its MD and CEO Punit Goenka has informed its board about a proposal made by Invesco about the merger, under which Strategic Group would hold majority stake but he was offered to be appointed as MD and CEO of the merged entity besides offering 4 per cent stake. In a regulatory filing, ZEEL alleged that Invesco's stance in their Open Letter that they "will firmly oppose any strategic deal structure that unfairly rewards select shareholders, such as the promoter family, at the expense of ordinary shareholders" runs contrary to the very deal Invesco was proposing itself a few months ago.
"The situation has become irretrievable", Azad, 73, said in his parting shot to Sonia Gandhi, whose trusted confidante he remained right from the time of Sitaram Kesri's unceremonious exit as the party's chief in 2000.
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."
Sunil Khanna, the chief executive officer of Zee Turner, has been named as the new president of Subhash Chandra-promoted Zee Telefilms Ltd.
P Chidambaram and Rajeev Shukla of the Congress, Bharatiya Janata Party's Sumitra Valmiki and Kavita Patidar, former Congress leader Kapil Sibal, Rashtriya Janata Dal's Misa Bharti and Jayant Chaudhary of the Rashtriya Lok Dal were among the 41 winners declared elected unopposed to Rajya Sabha.
The P V Narasimha Rao government in the 1990s had been on the verge of bringing to India the ashes, believed to be the mortal remains of Subhas Chandra Bose now kept at the Renkoji Temple in Japan, but was dissuaded from doing so due to an intelligence report.
All 41 candidates from Uttar Pradesh, Tamil Nadu, Andhra Pradesh, Bihar, Odisha, Madhya Pradesh, Punjab, Chhattisgarh, Uttarakhand, Jharkhand and Telangana were elected unopposed on Friday after the biennial elections to 57 Rajya Sabha seats were announced recently.
It appears that the party has some kind of political death wish, observe Sunil Gatade and Venkatesh Kesari.
The Zero Hour saw members from opposition and treasury benches coming together to condemn Justice Katju's remarks in his blog with the entire House later unanimously adopting a resolution by a voice vote.
Union ministers Nirmala Sitharaman and Piyush Goyal, Randeep Surjewala and Jairam Ramesh of the Congress and Shiv Sena's Sanjay Raut were among the 16 candidates elected to the Rajya Sabha from four states where polling was held on Friday after tussle over cross voting and alleged breach of election rules delayed the counting by around eight hours in Maharashtra and Haryana.
Political temperatures were soaring in several states that could see close contests, with parties trying to keep their flock together and trading accusations of poaching of MLAs.
Debt funds have exposure of nearly Rs 8,000 crore to Zee group papers. Aditya Birla MF, HDFC MF, Franklin Templeton MF, and ICICI Prudential MF have the highest exposure, reports Samie Modak.
The Centre decided to drop one of Mahatma Gandhi's favourite hymns Abide with me from this year's Beating Retreat ceremony as playing more Indian tunes would be appropriate in view of the Azadi ka Amrit Mahotsav, which celebrates the 75th year of India's Independence, government sources said on Sunday.
In his letter, Singh hinted since the Central Public Works Department's tableau already featured Bose, West Bengal's float was not included for the parade, without saying it in so many words.
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