GARBLED RECEPTION
The interim order from Sebi charges Subhash Chandra and his son Punit Goenka with misusing their board positions at Zee Entertainment Enterprises
Money is said to have moved from Zee to private entities owned by Chandra and Goenka
Zee and Sony Pictures Network India are in the middle of a merger to create a media behemoth
Sony has said the Sebi interim order has been taken very seriously and it will monitor developments affecting the deal
In the proposed merger, Zee's promoters will hold just 4 percent
FOR SUBHASH CHANDRA, 72, facing challenges is a way of life. From staving off a takeover bid by Rupert Murdoch in the late 1990s to setting up the ill-fated rebel cricket league ICL, the home-grown entrepreneur who made his name as the Founder of Zee TV-may well have lost count of how many he has faced. And he has emerged unscathed in most instances, though he has lost a big chunk of his shareholding in Zee Entertainment Enterprises Ltd (or ZEEL, that had revenues of 8,170 crore for FY23) and is the crown jewel of his Essel Group.
The present challenge is quite a different story, though. He is dealing with a host of serious allegations from capital markets regulator Securities and Exchange Board of India (Sebi) around corporate governance. This will test Chandra's mettle and that of his son Punit Goenka and he will have to draw upon his wisdom from many a battle to deal with it. For the man who got into television broadcasting without a background in the business and carved out an empire-competition has come from several quarters and it did make a dent, but Chandra managed to hang on. The ability to think out of the box stood him in good stead earlier. Will that help him this time?
TOUGH TIMES
هذه القصة مأخوذة من طبعة July 23, 2023 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 23, 2023 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
"OFFER MORE SOPS FOR THE NEW TAX REGIME”
Dinesh Kanabar, CEO of Dhruva Advisors, on the tax-related measures expected in the Budget, reforms, and more
IN SEARCH OF A BOOSTER SHOT
TO BOOST GROWTH, THE GOVERNMENT MAY FOCUS ON INCREASING CAPEX AND BOOSTING DOMESTIC CONSUMPTION, PARTICULARLY TARGETING THE MIDDLE CLASS. THIS COULD PROVIDE A FILLIP TO STOCKS IN THOSE SECTORS
HEALTH BOOST
THE HEALTHCARE SECTOR IS EXPECTED TO RECEIVE A SHOT IN THE ARM IN BUDGET 2025-26, WITH A FOCUS ON PRIMARY HEALTHCARE, DIGITAL HEALTH, AND BOOSTING PHARMACEUTICAL MANUFACTURING AND RESEARCH. BUT CHALLENGES LIKE THE SHORTAGE OF HEALTHCARE PROFESSIONALS REMAIN
"Indian aviation to see double-digit growth for the next 30 years"
Vinay Dube, Founder & CEO of Akasa Air, on the country's aviation sector, why the airline was set up, and more
TIME TO BE SMART
This year could be a good time to take home some profits, reduce risk, and shift to large-cap investments
CLOTHES MAKETH A MAN
THE MEN’S LUXURY MARKET IN INDIA, ONCE A NICHE SEGMENT, IS WITNESSING AN EXTRAORDINARY RISE AND IS THRIVING, THANKS TO SOCIAL MEDIA AND RISING DISPOSABLE INCOMES
Front-running Redux
Ketan Parekh has again been accused by Sebi. This time the allegations are of front-running, an unethical practice in financial markets
Triumph of Engineering
The Udhampur-Srinagar-Baramulla Railway Line in J&K is set to expedite trade and tourism
MAKING A MARK
IN A LANDSCAPE DOMINATED BY THE BIG FOUR ACCOUNTING FIRMS, DHRUVA ADVISORS HAS STRUCK IT BIG ON THE BACK OF ITS TAX AND REGULATORY ADVISORY SERVICES, ASSISTING SOME OF THE MARQUEE DEALS OF INDIA INC.
TIME FOR A TAX BREAK?
INDIVIDUAL TAXPAYERS LOOK FORWARD TO THE BUDGET EVERY YEAR HOPING FOR A BIG TAX BREAK. IT HAS ELUDED THEM FOR YEARS, BUT WITH HIGH INFLATION, MODERATING URBAN CONSUMPTION, AND ROBUST TAX COLLECTIONS, WILL THE MIDDLE CLASS GET A TAX BREAK IN FEBRUARY?
