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As part of its investigation into the founders of Zee Entertainment Enterprises Ltd (ZEEL), market regulator Securities and Exchange Board of India (SEBI) found that about Rs20bn (billion) or US$241mn (million) may have been diverted from the company, says a report quoting people familiar with the matter who did not want to be identified as the information is not public yet.
As part of its investigation into the founders of Zee Entertainment Enterprises Ltd (ZEEL), market regulator Securities and Exchange Board of India (SEBI) found that about Rs20bn (billion) or US$241mn (million) may have been diverted from the company, says a report quoting people familiar with the matter who did not want to be identified as the information is not public yet.
Securities and Exchange Board of India (SEBI) may have zeroed in on the role of Zee Entertainment Enterprises Ltd (ZEEL) s managing director and chief executive officer (MD&CEO) Punit Goenka in misuse of funds as key managerial personnel (KMP) in Essel group companies, and the investigation by the market regulator reveal Rs800 crore to Rs1,000 crore may have been siphoned as against its previous finding of Rs200 crore, says a report.