Zee Entertainment Enterprises on Friday constituted an independent advisory committee headed by Satish Chandra, retired judge of Allahabad High Court, to curb erosion of its investor wealth in the wake of speculations, leading to negative public opinion of the company.
The Securities and Exchange Board of India (Sebi) will question the top management of Zee Entertainment Enterprises (ZEE) — including founder Subhash Chandra, chief executive and managing director Punit Goenka, the chief financial officer, as well as current and past board members — on the alleged fund diversion at the media firm, said two people close to the development.