India's Securities and Exchange Board (SEBI) has uncovered a significant discrepancy exceeding 20 billion rupees ($241.36 million) in the accounts of Zee Entertainment Enterprises, according to the Bloomberg sources. SEBI had previously accused Zee Group's founders, Chairman Subhash Chandra and CEO Puneet Goenka, of actively diverting company funds to other listed entities., Companies News, Times Now
The amount flagged by SEBI was roughly 10 times higher than investigators had initially estimated, the Bloomberg report said. The amount calculated was not final and could be revised after SEBI reviewed responses from the company's executives, the report added.
India s market regulator has made a
preliminary finding that 20 billion rupees has
been diverted out of Zee Entertainment Enterprises
books, and Zee Group founders have been called in.
The Securities and Exchange Board of India has found a discrepancy of more than 20 billion rupees in the accounts of Zee Entertainment Enterprises, Bloomberg News reported on Wednesday, citing.