The Ministry of Corporate Affairs (MCA), which is investigating Zee Entertainment Enterprises Ltd (ZEEL) over alleged corporate governance violations, has written to the Securities and Exchange Board of India (Sebi) seeking details on its latest findings on fund diversion that have been cited in media reports, said people aware of the matter.
Zee's promoters are not having it easy with sebi as an interim order plays spoilsport. This could put its impending merger with Sony Pictures Network India at risk. What lies ahead? - Issue Date: Jul 23, 2023
The media company was under Sebi scanner for delaying disclosures related to invocation of pledged shares; probe was initiated under insider trading regulations
SEBI started investigating the matter related to the appropriation of certain fixed deposits (FD) of ZEEL by Yes Bank, for squaring off loans of related entities of Essel Group.