The company's total income fell 19% to Rs 2,034 crore in Q2FY25 from Rs 2,510 crore in Q2FY24
SIAC has determined that its emergency arbitrator has no jurisdiction or authority to injunct Zee from approaching the NCLT to implement the merger scheme, the company said in an exchange filing
The Mumbai-based media firm didn’t pay the installment due early January citing a cash crunch, the people aware of the development told Bloomberg, asking not to be named as the information is not public.
"The continued investigation by SEBI is increasing corporate governance overhang on Zee in our view," BofA Securities said.
As many as 1871 shares advanced, 1541 shares declined, and 118 shares remained unchanged on June 20.
Sony Pictures will inject $1.57 billion capital into the merged entity, which will enable it to compete with global giants in the OTT space. With its strong and varied content portfolio, the merged entity will also be able to benefit from the recovery in ad revenues.
Counsel appearing for Zee said the company will inform the date of the EGM by the morning of October 22. The Bombay High Court on October 21 asked the company to call a meeting as requisitioned by Invesco
Invesco is not motivated by concerns related to any corporate governance issue, but "by the events that transpired during February-April 2021", Zee alleged.
Differences between Invesco and the Goenkas over Zee founders raising stake scuttled deal, says RIL.
The details shared by the Zee board assume significance as the company is locked in a litigation against Invesco at multiple legal forums over the latter’s demand for an EGM to rejig the board and oust MD and CEO Punit Goenka.
The NCLT had directed Zee to file a reply by October 7 on Invesco's plea seeking a legal order for an extraordinary general meeting.
LIC, which owns 4.89 percent stake in Zee Enterprises, also said that it would continue to monitor the proceedings in NCLT.
The regulator said a detailed investigation in the matter is in progress which may bring out additional roles of omission or commission, of these five persons, if any, in detail.
Decoding the changing dynamics in the media and entertainment industry, and the implications for advertisers.
While Chokhani had cited changed circumstances and perspective post COVID, Kurien had reasoned his pre-occupation for the resignation.
The company has roped in Ashok Namboodiri as Chief Business Officer for International Business.
The company believes that in the coming festive season, brands will come back with full force and by the end of this fiscal the ad growth could return to its normal trajectory.
ZEEL will provide operational support, including through providing performance and corporate guarantees as appropriate and necessary and has authorised SugarBox to finalise the terms of 10 years contract with RailTel Corporation of India Ltd, it added.
While GOS acquired 1,44,76,963 shares aggregating 1.507 per cent stake, MAS acquired 1,40,23,037 shares accounting for 1.46 per cent shareholding, the filing said.
Lenders to Zee have recovered nearly 50 percent of outstanding dues
Shares in Zee Entertainment Enterprises Ltd fall as much as 5 percent after Goldman Sachs downgraded the television broadcaster to "neutral" from "buy", saying the stock appears "fairly valued" given macro headwinds that could hurt advertisement spending.