Essel Group

NCLAT dismisses IDBI Bank's plea for insolvency against Zee Entertainment

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

SC rejects Amit Goenka's plea against KPMG as auditor in Shirpur Gold case

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 Entertainment to raise nearly $240 million, to use funds for growth

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

ED searches Essel Group companies in Religare Finvest money laundering case

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

Reliance Jio's Hathway, Hinduja arm in race to acquire Siti Networks

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

Satellite TV broadcaster Dish TV India shares up 7.5% on settlement reports

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

Subhash Chandra to settle JC Flowers' debt to reclaim Dish TV: Report

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

No immediate relief to Zee promoters as SAT refuses to stay Sebi order

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

SAT to take up Zee Ent promoter plea against Sebi order on June 15

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

Market regulator Sebi issues show-cause notice to Essel's Amit Goenka

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

Sebi issues notices to Essel's Amit Goenka, 7 others in fund diversion case

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

Adani Green Energy arm to buy 50% equity in Essel Saurya Urja for Rs 15 cr

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

Dish TV shareholders reject 4 resolutions at AGM, board strength down to 2

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

Fiscal 2022 was not the smoothest year for Dish TV: Annual Report

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.

HC rejects Dish TV plea against YES voting rights, says no case made out

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

Bombay HC turns down Dish TV plea in ownership row with YES Bank

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

Subhash Chandra files papers for Rajya Sabha polls from Rajasthan

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

HDFC moved NCLT against SITI Networks claiming default of Rs 296 cr

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

Yes Bank must decide if it is Dish TV investor or a lender: Subhash Chandra

Family's settlement offer is in Yes Bank's court, says Zee founder

Lenders await court verdict on Essel plea before selling Dish TV stake

Group promoter entities that have appealed against the transfer of pledged shares in lenders' names