Page 2 - Essel Group

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

Bombay HC grants injunction in favour of Zee in dispute with Invesco

Zee had said it was unwilling to hold an extraordinary general meeting of shareholders as requested by Invesco, its largest shareholder.

Legal fight on anvil as Dish TV board rejects YES Bank's demand for EGM

YES Bank, which holds 26% stake of Dish TV, has sought to remove Rashmi Aggarwal, Bhagwan Das Narang, Shankar Aggarwal and Ashok Kurien from the board of Dish TV besides Jawahar Goel

Tech View: Zee Entertainment, Zee Learn & Zee Media can rally up to 30%

The Moving Average Convergence Divergence (MACD) has crossed the zero line almost after 2 years in Zee Learn stock

Zee founder Subhash Chandra settles 91.2% of debt with 43 lenders

About 88.3% of the amount has been paid, while the remaining 2.9% is in the process of being paid, he says

Dish TV promoter Jawahar Goel pledges shares to rescue Essel group

Subhash Chandra says committed to release pledge; won't happen at lower price

Dish TV may have to pay over Rs 185 crore in past dues: Sources

Their total dues and debt in the firm will now go up to Rs 2,500 crore, leaving them with no option but to raise liquidity, according to sources

Essel Group sells cruise line to Sant Chatwal co as Covid hits business

The Zee Group has exited its fledgeling cruise business and sold the cruise line brand Jalesh Cruises to Waterways Leisure for an undisclosed sum. Zee was running the business under Zen Cruises, which in fact was the India's general sales agent for Jalesh Cruises of Mauritius, according to a statement. Like hotels, airlines and cinemas, cruise shipping has also been shut since the coronavirus pandemic hit the world early February. On top of that, the Zee group has been facing liquidity problems at some of the group entities. Waterways Leisure is part of the US-based NRI Sant Chatwal-promoted Dreams Hotel Group. The deal also includes the sale of Jalesh's entire digital interface and technology backend, the software developed for customer acquisition, and the database of customers, travel agents and partner network. Waterways has also hired existing executives and employees of Zen and Jurgen Bailom will continue as the president & chief executive. Vijay Kher, country head of Drea

Subhash Chandra's net worth sinks below Rs 10 crore amid deluge of debt

Through a major restructuring, the group has been able to pay off over Rs 11,500 crore, albeit at a high cost.

Adani Green transfers newly acquired Essel solar assets to TOTAL JV

The JV company has completed this transfer of the assets at an enterprise valuation of Rs 1,632 crore