Essel Group

Essel group Chairman Subhash Chandra has sold a prime Lutyens' Delhi bungalow to an unnamed businessman for Rs 1,260 crore in what is being touted as one of the costliest property deals in recent times, sources said. The nearly 3-acre bungalow on Bhagwan Das Road in close vicinity to Connaught Place and India Gate has been bought by a "Delhi-based business family", the sources said, refusing to divulge the identity of the buyer. The residential plot is on the same road as another plot that Gautam Adani conglomerate had bought in 2020 for a reported Rs 400 crore. Sources said the Rs 1,260 crore deal will be closed by the first week of December. A spokesperson of Zee Group declined to comment on the transaction. Chandra had acquired the property in 2015 for Rs 304 crore, translating into a more than four-fold increase in value over the past decade. In Lutyens Bungalow Zone (LBZ), there are around 3,000 bungalows. The LBZ is one of the most expensive real estate locations in the cou

Essel Group says technology will anchor its future growth strategy as it marks 100 years of operations and expands its focus on digital and content platforms

The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed the plea of IDBI Bank which sought to initiate insolvency proceedings against Zee Entertainment. A two-member NCLAT bench upheld the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which had earlier rejected the private lender's plea to initiate insolvency proceedings against Zee Entertainment Enterprises Ltd (ZEEL). However, the appellate tribunal granted liberty to IDBI Bank to move a fresh plea for default outside of the period mentioned in section 10A of the Insolvency & Bankruptcy Code. Section 10A mandates that no application for initiation of the corporate insolvency resolution process (CIRP) can be filed against any debtor by any financial and operational creditor for any default arising on or after March 25, 2020, for a period of one year. This special provision was inserted in the IBC by the government to help companies after economic activities had resumed post-lockdown

The bench consisting of Justice Hrishikesh Roy said they found no infirmity with the Bombay High Court order of August 14, which had dismissed Goenka's plea

Zee said it will use the funds to "enhance its strategic flexibility to pursue future growth opportunities in the evolving media landscape"

Meanwhile,Essel Group said the search conducted by the ED was related to an enquiry regarding Religare Group

Hathway Digital and IndusInd Media & Communications did not wish to comment on the development

Dish TV India, a direct-to-home broadcaster, is facing intense competition from OTTs and cable TV

Chandra will also get back three properties, one of which is a bungalow in central Delhi

Tribunal asks markets regulator to file reply within 48 hour, posts matter for June 19

'Principles of natural justice' not followed, say legal representatives

The regulator has directed them to not dilute or sell their holdings in the company

Capital markets regulator Sebi on Tuesday issued interim order-cum-show-cause notices against Shirpur Gold Refinery, its erstwhile chairman Amit Goenka, promoter Jayneer Infrapower and Multiventures, and five others for allegedly siphoning off funds from the company and violating other rules. Shirpur is a part of the Subhash Chandra Goenka led-Essel Group and has been taken to NCLT under IBC by its lenders. Amit Goenka was non-executive chairman and director of Shirpur till 2021-22. The interim order has been passed against Shirpur Gold Refinery Ltd (SGRL), its promoter Jayneer Infrapower and Multiventures, and six individuals -- Amit Goenka (chairman), its directors Mukund Galgali, Vipin Choudhary, Dineshkumar Kanodia, and its CFOs Shravan Kumar Shah and Ashok Sanghvi. The family members of Subhash Chandra, including his son Amit Goenka, are the shareholders in Jayneer, as per Sebi. In its order, Sebi directed Goenka, Galgali, Choudhary, Kanodia, Shah, Sanghvi and Jayneer not to s

The remaining 50% of the equity shares will continue to be held by the government of Rajasthan

Adoption of FY21 and FY22 financial statements and new statutory auditors not accepted at AGM

The DTH market has been facing major challenges as the market evolves steadily. Linear television is making way for digital services, forcing players to reinvent quickly.

A bench led by Justice GS Patel and Justice MJ Jamdar said World Crest Advisors, Dish TV promoter group entity, had not made any case in its plea against YES Bank, and was dismissing the appeal

YES Bank has over 440 million shares (or around 25 per cent) in the direct-to-home company and has been seeking a change in management for some time now

Essel Group chairman Subhash Chandra is currently a Rajya Sabha member from Haryana and his term is going to expire on August 1

SITI Networks has received a notice issued by the Mumbai bench of the National Company Law Tribunal over the petition filed by HDFCL, the Essel group firm said in a regulatory filing on Thursday