Page 3 - Zee Entertainment Enterprises

Sebi penalises promoter entity of ZEEL for certain disclosure lapses

Sebi has penalised Cyquator Media Services, a promoter entity of ZEE Entertainment Enterprises Ltd (ZEEL), for certain disclosure lapses. A fine of Rs 4 lakh has been imposed on Cyquator for failing to make adequate disclosures regarding certain trades in shares of ZEEL. The regulator had conducted an examination of trading in ZEEL shares by the entity to ascertain any possible violations of insider trading norms during the period from January 1 to December 26, 2019. "It was observed that the noticee (Cyquator Media Services) being a promoter has made delayed disclosure with respect to creation of pledge and also failed/made delayed disclosures w.r.t. invocation and sale of pledge to ZEEL and exchanges," Sebi said in an order passed on Friday. A show cause notice was issued to the noticee, which submitted its reply. The noticee contended that failure to make disclosures within the stipulated time, was unintentional, technical or inadvertent and that no gain or unfair advantage has

SAT reserves order on Zee Promoter's appeal in fund diversion case

Tribunal will soon pronounce if the bar on Chandra & Goenka from holding key positions can be lifted

After Sony's merger plan for India's Zee turns into farce, time to walk

The television market in India is large, but its best days are in the rear-view mirror. So although the Zee network reaches 750 million people, its market share of 16.6% is stagnant

Ten Sports sale to Sony: I-T dept to appeal ITAT's capital gains tax ruling

The Income Tax Appellate Tribunal (ITAT) had claimed that the IT's contribution to play-out facilities was an afterthought

BCCI likely to wait for Zee-Sony merger before selling media rights: Report

According to media reports, Zee Entertainment Enterprises is in talks with the creditors to repay its debt and clear the last obstacle in completing its merger with Sony Pictures Network India

NCLT rejects IDBI Bank's insolvency plea against Zee Entertainment

Lender has the option to move appellate tribunal to appeal against the order

JC Flowers ARC makes claim on Subhash Chandra's no-compete fees

ARC says no-compete fees received from Sony should be used to repay local debt

Zee Ent's Punit Goenka pays Rs 50.7 lakh to settle matter with Sebi

The matter dates back to September 2020 when ZEEL announced the launch of pay-per-view service Zeeplex

ZEEL, IndusInd Bank settle dispute paving way for Sony-Zee merger

On February 22, the Mumbai bench of the NCLT had admitted the bank's insolvency plea against ZEEL

Zee Entertainment calls report of $10 million repayment 'speculative'

In a report on Thursday, Bloomberg said that the media company has agreed to repay its dues to the IndusInd Bank to resolve insolvency proceedings against it

Despite NCLT setback, analysts remain positive on Zee Entertainment

Their sum-of-the-parts valuations ranges between Rs 275 and Rs 390, which indicates uncertainty

NCLT admits plea for insolvency proceedings against ZEEL, Siti Networks

The National Company Law Tribunal has admitted an Indusind Bank plea for insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL). The division bench of judicial member H V Subba Rao and technical member Madhu Sinha on Wednesday also appointed Sanjeev Kumar Jalan as the resolution professional in the matter. The matter pertains to a default of Rs 89 crore by Zee Group's multisystem operator arm Siti Networks claimed by Indusind Bank, for which ZEEL was a guarantor. The private sector lender has also filed a separate insolvency petition against Siti Networks at the NCLT. The NCLT has appointed Mohit Mehra as the resolution professional in this matter. The NCLT has admitted the plea at a time when ZEEL is in advanced stages of merging with Sony in one of the biggest deals in the media and entertainment sector. According to experts, the development is bound to create hurdles in the deal, with some opining that the powers of a company board stand superseded with the

NCLT admits IndusInd Bank's insolvency petition against Zee Entertainment

The company is currently undergoing a merger with the Sony India which is pending with the regulatory authorities and the court

IPRS moves NCLT against ZEEL, files insolvency plea claiming Rs 211-cr dues

The Indian Performing Right Society (IPRS) Ltd has moved the insolvency tribunal NCLT against Zee Entertainment Enterprise Ltd, claiming a default of Rs 211.41 crore, the media major said in a regulatory filing. However, Zee Entertainment Enterprise Ltd (ZEEL) added that it "will be filing its reply rejecting the claim on, inter alia, the ground that there is a pre-existing dispute between the parties on the claimed amount... " IPRS, which is a non-profit society comprising authors, composers and music publishers, had filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016, as an operational creditor claiming dues towards royalty payable for utilisation of "literary and musical works". "A Petition has been filed against the Company under Section 9 of the IBC by the IPRS, an Operational Creditor, before the NCLT, Mumbai Bench for initiation of Corporate Insolvency Resolution Process against the company, claiming a debt and default of Rs 211.41 crore ...

Zee Entertainment, Sun TV may underperform on advertising growth worries

Between the two, Sun had better growth rates than Zee in the Sept quarter

Invesco sells 5.5% stake in Zee for Rs 1,396 cr at Rs 263.7 a share

Morgan Stanley, Citigroup, Bank of America, Abvendus, ICICI Prudential MF were some of the buyers

Invesco to sell 5.51% stake in Zee Entertainment for over Rs 1,300 cr

This is the second block deal by Invesco in seven months, which offloaded 7.8% stake in Zee Entertainment in April

Zee offers to shut down major entertainment channel for merger with Sony

The identity of Zee channel offered to shut down is not known yet

Zee is in talks with CCI to get approval for merger with Sony Entertainment

As per the BARC data for the ongoing financial year (2023), the merged entity has 36 per cent TV viewership market share in the Hindi GEC segment, and 33 per cent in the Hindi movies channels.

Zee Entertainment Q1 consolidated net profit down 49% to Rs 107 cr

The company had reported a net profit of Rs 208.78 crore in April-June period a year ago, Zee Entertainment Enterprises Ltd (ZEEL) said in a BSE filing.