India News: Enforcement Directorate conducted searches on premises of three Essel Group companies in Mumbai based on a complaint by Religare regarding alleged money laundering. The investigation is related to the siphoning off of funds from Religare Finvest by Essel Group entities. The ED has recovered incriminating documents and recorded statements of officials. Essel Group denies any wrongdoing.
Zee Entertainment Enterprises Ltd (ZEEL) tumbled over 33% Tuesday and touched its 52-week low of Rs152.50 on NSE following a termination letter sent by Sony to call off the merger
The capital market regulator penalized the officials of Kotak Mahindra for flouting rules pertaining to mutual funds while investing in the Essel Group companies.