Zee

Arbitral tribunal rejects Zee Entertainment's claims against PSU RailTel

Zee Entertainment and its subsidiary Margo Networks have lost their claims in the arbitration against Navratna PSU RailTel Corporation of India. An arbitration tribunal -- formed over the dispute over the termination of the contract for content-on-demand (COD) by the PSU -- rejected the claim of Margo Networks. "This is to inform you that the Arbitral Tribunal vide its Arbitral Award has rejected the said claims filed by the Company and Margo against Railtel," according to a regulatory filing from Zee Entertainment. Zee Entertainment Enterprises Ltd (ZEEL) and its subsidiary had initiated arbitration proceedings, opposing "wrongful termination of the Content on Demand Agreement" by Railtel, and claimed the amounts wrongfully forfeited by the public sector undertaking. Further, the Arbitral Tribunal has also rejected the counterclaims made by Railtel, it added. "The company is evaluating the option of filing an application/appeal before the appropriate Court for setting aside of th

Punit Goenka asks ZEEL board to relieve him from managing director position

He intends to dedicate his time and energy towards the set goals for the company's future, ZEE Entertainment Enterprises said in a press release

SAT adjourns hearing on Zee's plea against Sebi on fund diversion matter

Plea on alleged fund diversion matter may now be heard later in September

'Sebi chairperson Buch is corrupt', alleges Zee's Subhash Chandra

Regulatory official calls allegations "malicious and opportunist"

Zee Entertainment Q4 results: Posts consolidated net profit of Rs 13.35 cr

Zee Entertainment Enterprises Ltd on Friday reported a consolidated net profit of Rs 13.35 crore in the March quarter. The company had posted a consolidated net loss of Rs 196.03 crore in the same period of the previous fiscal, Zee Entertainment Enterprises (ZEEL) said in a regulatory filing. Consolidated total income in the quarter stood at Rs 2,185.29 crore as against Rs 2,126.35 crore in the corresponding period a year ago, it added. In the fourth quarter of FY24, domestic advertising revenue grew 10.6 per cent year-on-year driven by the continued recovery in macro advertising environment and spending pickup by FMCG clients, while subscription revenue growth was driven by pick up in linear subscription, the company said in an investor presentation. Total expenses in the fourth quarter were lower at Rs 2,043.76 crore as compared to Rs 2,083.35 crore in the year-ago period. The board of directors has recommended a final dividend of Re 1 per equity share having face value of Re 1

Zee-Sony deal: ZEE withdraws merger implementation application from NCLT

The Zee statement said the Board took the step based on legal advice after a detailed consultation with legal experts

Zee removed from F&O; FPIs up holdings in 7 Adani group companies

Adani Ports & SEZ has seen the highest increase at 26 basis points (bps) to 14.98 per cent followed by Adani Wilmar and Adani Green at 12 bps each

Zee fund diversion case: Chandra suppressed material facts, Sebi tells SAT

The market regulator is investigating the alleged fund diversion by Chandra and his son Punit Goenka, who is also the managing director and chief executive officer of Zee

Zee board expands scope of advisory panel to include probe assessment

Zee Entertainment Enterprises Ltd on Tuesday said its board has expanded the scope of independent advisory panel to include investigation assessment. The announcement by the company comes amid the ongoing probe by market regulator Sebi against its promoters for fund diversion. Last week, the company announced constituting of independent advisory panel to curb erosion of its investor wealth in the wake of speculations leading to negative public opinion of the company. In a regulatory filing, Zee Entertainment Enterprises Ltd (ZEEL) said, "On recommendation of the Audit Committee, the Board of Directors of the Company, in its meeting held today, has considered and approved to further expand and strengthen the role of the 'Independent Advisory Committee' by including 'Investigation Assessment' as a primary responsibility of this Committee.

Zee refutes report of Rs 2,000 crore accounting 'hole', calls it 'false'

A report on Wednesday said that the market regulator has found a "hole" of more than Rs 2,000 crore in the accounts of Zee Entertainment Enterprises Ltd

Zee's IL T20 gets 46% women viewers, 2nd most watched franchise tournament

With a reach of 161 million views, a staggering 46 per cent of which being women viewers, Zee Entertainment has announced that the DP World ILT20 league continues to be the world's second most watched franchise-based cricket competition. The tournament garnered an impressive reach of 161 million for its first 18 matches, 56 per cent of the audience being under the age of 30, according to data released by BARC INDIA 2+, TV+OOH, and LIVE+PPL. The company has reported an uptick of 12 per cent among 15+ urban audiences in India compared to the inaugural edition. The time spent on the league, which started on January 19 has surged by an impressive 33 per cent among viewers aged 15 and above in urban India. "This substantial increase in viewing duration emphasizes the league's ability to captivate and retain the attention of its audience, contributing to a more immersive and rewarding viewer experience," said league's media rights holder ZEE in a statement. The tournament with six teams

Zee Entertainment mulls filing counterclaims against Sony India in SIAC

Legal experts say Zee took several steps to merge the companies which resulted in litigation costs

Zee moves NCLT, SAIC against Sony Pictures post collapse of merger deal

Meanwhile, Sony India is going full steam ahead with its plans without Zee and said it is looking for both organic and inorganic growth opportunities in India

Sony-Zee merger may be finalised by November despite appeals from banks

IDBI Bank and Axis Finance have both filed pleas National Company Law Appellate Tribunal (NCLAT) challenging the merger

Sony India says merger with Zee Ent likely delayed, to take few more months

(Reuters) -Japan's Sony Group Corp said on Friday a merger of its Indian unit with Zee Entertainment Enterprises, which was due to be completed by end-September, would likely take a few more months.

Zee row: SAT defers hearing on SEBI's confirmatory order to Sept 13

The Securities Appellate Tribunal (SAT) on Friday postponed to September 13 the final hearing on a plea challenging a SEBI's confirmatory order that barred Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra from holding any key positions in the company and other organisations. After hearing rejoinders from counsels Abhishek Manu Singhvi and Navroz Seervai, representing Goenka and Chandra, SAT said it will continue the hearing on September 13. SAT further stated that on September 14, it will hear Goenka and Chandra's rejoinders. In his rejoinder, Singhvi said that SEBI passed the confirmatory order without concluding the investigation and is based on mere speculation. The market regulator had no evidence beyond the bank statements to prove the allegations of round-tripping of funds, he added. SEBI's confirmatory order bars Goenka and Chandra from holding any directorship or other key managerial positions in the company and other organisations. Singhvi also said the Se

New Zee-TV Zulu channel will be catalyst for social cohesion: Zulu King

A new channel launched by Indian media conglomerate Zee Enterprises which will feature programmes dubbed into South Africa's largest language, isiZulu, will be a catalyst for social cohesion, Zulu King Misizulu Ka Zwelithini has said. The Zee Zonke (Zee for All' in isiZulu) started broadcasting last week on the DSTV satellite platform in all its different bouquets. The channel will offer drama series and novellas fully dubbed in isiZulu, catering for South African audiences. "We support the good decision by Zee Enterprises to launch Zee-Zonke. We view this not only as promoting isiZulu but also as a catalyst for social cohesion between Zulus, Ngunis (the second largest indigenous population in South Africa after the Zulu nation) and Indians in our country and the world, the King said in an address delivered on his behalf by Prince Ishwar Mabheka Zulu Ramlutchman at the official launch of the channel last week. Ramlutchman, who is also the president of the Sivananda World Peace ...

NCLAT issues notice seeking Zee Entertainment's reply over IDBI Bank's plea

The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notice to Zee Entertainment Enterprises Ltd (ZEEL) over a petition filed by private sector lender IDBI Bank, directing it to file a reply within two weeks. The private lender has challenged an NCLT order, which on May 19 rejected a plea to initiate insolvency proceedings against the media major. An NCLAT bench comprising Chairperson Justice Ashok Bhushan and Member Barun Mitra also granted two weeks to IDBI Bank to file rejoinder and directed to list the matter on October 11 for the next hearing. The Mumbai bench of the National Company Law Tribunal (NCLT) on May 19, 2023, set aside the bank's plea, seeking insolvency against media major Zee Entertainment, observing that it was barred under Section 10A of the Insolvency & Bankruptcy Code (IBC). In its order, the NCLT bench said that Zee Entertainment Enterprises Ltd (ZEEL), which was the corporate guarantor for the loan availed by Siti Networks -- the ...

Sony-Zee and the new media reality

The Sony-Zee merger reflects the new dynamics of an era where content, competition, and distribution are increasingly dominated by big tech

SAT dismisses plea by Zee's ex-chairman Chandra, CEO Goenka over Sebi ban

An Indian tribunal on Monday dismissed an appeal by former Zee Group Chairman Subhash Chandra and Zee Entertainment CEO Punit Goenka to lift the markets regulator's ban