The National Company Law Tribunal (NCLT) on Monday ordered insolvency proceedings against media baron Subhash Chandra on a plea filed by Indiabulls Housing Finance. A two-member Delhi bench of the NCLT directed initiation of the Corporate Insolvency Resolution Process (CIRP) against Zee Entertainment Enterprises Ltd (ZEEL) Chairman Emeritus Chandra, who was a guarantor for a …
ZEE Entertainment Enterprises Limited (ZEEL) has withdrawn its application from the National Company Law Tribunal (NCLT) that sought directions to Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment to implement the composite scheme of arrangement between the three companies. In an official statement issued late on Monday evening, the company said it has withdrawn …
Zee Entertainment Enterprises (Zee) has initiated the process of slashing its workforce by 15% across functions as it looks to optimise costs and achieve its target of 20% EBITDA margin in 2025-26, the company said in a statement. The move is likely to impact nearly 700 employees, as the company employed 4,577 people as of …
Zee Entertainment Enterprises (ZEE) has terminated 50% of its Technology & Innovation Centre (TIC) staff in Bengaluru to optimise costs and boost its operating margin, the company said in a statement. ZEE has also restructured the TIC and streamlined its scope of work following the board’s guidance. The ZEE board had recently asked the management …
Zee Entertainment Enterprises (Zee) is implementing a risk mitigation and business continuity plan to ensure that the company’s operations don’t get impacted due to external factors, including an adverse Sebi order against the company’s promoters, chairman R Gopalan told ET. Responding to a question about the likelihood of an adverse Sebi ruling against Zee CEO …
Zee Entertainment Enterprises shareholders have approved the appointment of three independent directors to the company’s board. Special resolutions for approval of the appointment of – Uttam Prakash Agarwal, Shishir Babubhai Desai and Venkata Ramana Murthy Pinisetti were passed with majority by the shareholders of Zee Entertainment Enterprises Ltd (ZEEL) through a postal ballot process. All …
Zee Entertainment Enterprises President Revenue Rahul Johri has quit the company as the entertainment major has implemented strategic changes to the revenue vertical of the broadcast business. Punit Goenka, MD and CEO of Zee Entertainment, will work directly with the revenue teams as part of the streamlining of the company’s operations. Ashish Sehgal, the company’s …
Media company Bloomberg on Wednesday moved the Delhi High Court challenging the trial court’s order directing it take down an article on Zee Entertainment claiming that SEBI has found accounting irregularities of nearly US $240 million at the company. The High Court allowed the urgent listing of the matter for March 7, 2024. On March …
No one has asked the Zee board for a change in management following the failed merger with Sony and subsequent crash in share price, Zee Entertainment Enterprises managing director and chief executive Punit Goenka said in an interview in Mumbai. In the midst of a comprehensive assessment of the business, Goenka told Vinod Mahanta & …
Zee Entertainment Enterprises is under the F&O trade ban on Saturday. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Individuals trading …