'Maintain patience': Inside Subhash Chandra's fight to keep empire afloat

Shares of Subhash Chandra's Essel Group tumble after a news website's reported his company was being probed by fraud investigators.

The media mogul behind India’s biggest television network is battling to restore confidence in his businesses after an online news site reported that Subhash Chandra’s Essel Group has links to a company that’s being probed by fraud investigators.

It began Friday, when a report by the Wire sent all of Essel’s seven listed units plunging, including a record 27 per cent tumble at Chandra’s flagship TV broadcaster, Zee Entertainment Enterprises Ltd. A barrage of denials and statements from the conglomerate since helped Zee and its two affiliates recover some of their losses on Monday, while the remaining Essel units continued to