Chandra’s comments came in an over 90 minute long call with analysts and investors, which the company said is part of its strategy to improve corporate governance and outreach to shareholders.
Investors rushed to take some profits off the table from Zee Entertainment Enterprises shares, after the strong rally recorded in the previous session, following its growth strategy update.
Zee Entertainment Enterprises said that it is positioned to become the leading and most profitable OTT player, while developing new business verticals to expand its target audience.
Zee Entertainment Share Price: The infusion of funds from the promoters will enable ZEEL to fortify its core business segments and strengthen its financial foundation, said the firm.
The panel of Whole-time Members of SEBI rejected the applications filed by both, and also referred the matter to SEBI for further investigation.
R. Gopalan, Chairman of ZEEL, said that after approvals, the movie would be produced by ZEE Studios, to pay homage to Ratan Tata
The schemes of the fund have carried out net sale of 1.95 crore shares of the company from the last filing submitted on January 31, 2024.
Zee Entertainment has got the approval of the shareholders to raise Rs 2,000 crore through issuing equity shares and qualified institutions placements (QIPs).
The head of Zee's commercial and strategic initiatives - Mukund Galgali - who has been with the group for 17 years, will assume responsibilities as acting CFO from June 19.
According to the order, Chandra was "unable to gain confidence in the RP and the impression what he gathered is that the RP could not aptly comprehend and understand the vastness and intricacies of the complicated affairs as businessman, a philanthropist and as a public servant.
As a result of Chandra being admitted to moratorium, no litigation can be initiated against him. Chandra also cannot alienate or sell any of his assets and the Resolution Professional will now process the claims of those who intend to recover money from him.
The company’s anticipated turnaround story has not played out, and it is consistently losing market share. We are stopping our coverage of the stock
The board has also decided to closely monitor the business model and plan presented by the MD & CEO of the company wherein he has provided the roadmap to improve the performance and efficiency of each of the businesses to achieve higher EBITDA.
IBHF argued the case for over an hour at the National Company Law Tribunal (NCLT) on February 28. The case is likely to be heard again on March 4.
Zee Entertainment Enterpriseshas constituted a panel to examine the allegations levelled against the company, its promoters and key managerial personnel by regulatory bodies.
All the big investigations, including ZEEL, are likely to expose violation of related party transactions
Sony had last month terminated the merger agreement with ZEEL to merge its two Indian entities, which could have created a $10-billion media entity
This comes after the Zee's shareholders rejected the reappointment proposal of two independent directors in its annual general meeting held on December 17.
ZEEL is likely to see a sharp derating, implying an immediate impact on the stock price
Arbitration proceedings are likely to add to Zee' litigation vows as it stood guarantee to the loan extended to Siti by Aditya Birla Finance
Zee shares fell after Sony India issued a statement saying it has not yet agreed to Zee's proposal for the extension of the merger deadline.
Venkata Ramana Murthy Pinisetti, Shishir Babubhai Desai and Uttam Prakash Agarwal will take charge as additional directors in the category of independent directors of Zee Entertainment Enterprises.
The improvement in the ad spend environment enhances the visibility of ZEEL's revenues
In May 2023, the NCLT's Mumbai bench refused to entertain IDBI's plea noting that it was barred under Section 10A of the Insolvency and Bankruptcy Code (IBC).
On October, when SAT pronounced its order, SEBI's lawyers asked the appellate tribunal to stay its own order till they approach the Supreme Court. However, SAT refused to pass any such orders.